Importantly, for covenant calculation purposes DCP's preferred equity
is given 100% equity treatment so the issuance of preferred equity
will help improve liquidity and leverage as the proceeds are expected to be used to pay down debt.
Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate debt and preferred equity
, with investments starting at $5MM on income producing retail, office, industrial, multifamily, manufactured housing communities, self-storage and hospitality properties located throughout the continental United States.
Mubadala and Eike Batista, the founder of EBX Group of Brazil, in a statement announced the strategic partnership, under which Mubadala will invest $2 billion in exchange for a 5.63 per cent preferred equity
interest in Centennial Asset Brazilian Equity Fund LLC and other offshore holding companies of Batista.
689 (1986), held that a liquidating corporation is deemed to distribute its property in the following order: (1) to creditors, (2) to preferred equity
holders, and (3) to common equity holders.
These equity investments substantially reduce the debt financing required to fund the acquisition, Dow has restructured the transaction to essentially pay the equivalent of $63 per share in cash, and $15 per share in face value of preferred equity
countries around the world have consistently reported the use of a variety of securities, including common equity, preferred equity
, convertible preferred equity
, debt, convertible debt, and combinations (in the U.S., VCs typically use convertible preferred equity
, and there is a tax bias in favor of that instrument in the U.S.).
According to American Capital, the investment will take the form of senior subordinated debt and preferred equity
, with Laminar Direct Capital L.P.
Chrysalis Ventures, a source of equity capital for growth companies in the Southeast and Midwest, led financing of the $4 million Series B preferred equity
said it is no longer in discussions with a private equity investor with respect to a potential preferred equity
investment in the company because it and the investor could not come to an agreement in terms.
And, overall, Citicorp raised $750 million in preferred equity
in 1991, only to write off $990 million in the third quarter alone.
Concurrently, the company issued 4,185,642 additional units out of its existing preferred equity
interests designated Class B fixed-to-floating rate cumulative redeemable perpetual preferred units, with a USD25.00 per unit liquidation preference, as payment of a portion of the purchase price for the Mesquite acquisition.
Financing for the acquisition includes a two-year, floating rate senior loan and a $1.1M preferred equity