Preferred Redeemable Increased Dividend Equity Security

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Preferred Redeemable Increased Dividend Equity Security

A forward contract to buy a certain security and an interest-bearing deposit at a certain time for a certain price. PRIDES operate much like mandatory convertible bonds, but have different structures. PRIDES allow an investor to receive the interest on the deposit at regular intervals and also take advantage of the underlying security when the forward contract matures. Whoever holds the PRIDES at maturity must purchase the underlying security. They were introduced by Merrill Lynch.
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DCR currently rates MCN as follows: Single Point Remarketed Reset Capital Securities (SPRRCS) 'BBB+' (Triple-B-Plus); Monthly Income Preferred Securities (MIPS), Trust Originated Preferred Securities (TOPrS), Trust Preferred Securities (TruPS) and FELINE Preferred Redeemable Increased Dividend Equity Securities (FELINE PRIDES) 'BBB' (Triple-B).
MCN's ratings are as follows: Single Point Remarketed Reset Capital Securities (SPRRCS) 'BBB+' (Triple-B-Plus); Monthly Income Preferred Securities (MIPS), Trust Originated Preferred Securities (TOPrS), Trust Preferred Securities (TruPS) and FELINE Preferred Redeemable Increased Dividend Equity Securities (FELINE PRIDES) 'BBB' (Triple-B).
has delayed the issuance of $500 million Preferred Redeemable Increased Dividend Equity Securities (PRIDES), the company is currently reviewing options with respect to issuing equity and equity-like instruments to help fund its investment in new telecommunications opportunities.
s (TCI) $500 million 6% Preferred Redeemable Increased Dividend Equity Securities (PRIDES) shelf is rated 'BB-' by Fitch.
Directors also declared the regular quarterly dividend on the company's Preferred Redeemable Increased Dividend Equity Securities, 7% PRIDES(SM), Convertible Preferred Stock ($1.
4 million of mandatorily convertible Preferred Redeemable Increased Dividend Equity Securities (PRIDES) in March 1994.
NYSE:HLR) (the "Company") has announced that it currently intends to commence, in the future, repurchases of shares of its Class A Common Stock and/or its Preferred Redeemable Increased Dividend Equity Securities ("PRIDES") from time to time.
Directors also declared the regular quarterly dividends on the company's Series D Convertible Preferred stock (81-1/4 cents per share payable July 15, 1996, to holders of record July 1) and on the company's Preferred Redeemable Increased Dividend Equity Securities, 7% PRIDES, Convertible Preferred Stock ($1.
KENETECH will offer 4 million shares, each share representing one-fiftieth (1/50) of a share of convertible preferred stock, referred to as Preferred Redeemable Increased Dividend Equity Securities -- PRIDES(SM).
8 million shares of Preferred Redeemable Increased Dividend Equity Securities (PRIDES) Convertible Preferred Stock at $61.
255% Preferred Redeemable Increased Dividend Equity Securities (PRIDESSM), which provided total cash proceeds of approximately $94 million, 2) the consummation of the sale of $225 million face amount of 9-7/8% Senior Notes, and 3) the signing of a five-year $250 million revolving credit agreement.
The new issue, which is structured as Preferred Redeemable Increased Dividend Equity Securities (PRIDESSM), is priced at $11.
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