trending Market Intelligence /marketintelligence/en/news-insights/trending/d3gE2Qx3Zz5cPfm1Ols90g2 content esgSubNav
In This List

PS Business Parks prices $300M preferred stock offering

Blog

Infographic: Key questions when assessing an Alternative Investment Funds (AIFs) creditworthiness

Blog

Perspectives from China: Chinese M&A in 2022

Blog

Headwinds slow global M&A in Q2’22

Blog

New Corporate Realities: The Next Generation of Managing Risk and Operations


PS Business Parks prices $300M preferred stock offering

PS Business Parks Inc. priced a public offering of 12.0 million depositary shares at $25.00 apiece for expected gross proceeds of $300 million.

Each depositary share represents 1/1,000th of a share of the company’s 4.875% series Z cumulative preferred stock.

The diversified real estate investment trust expects to use the net offering proceeds, along with available cash, to finance the planned redemption of its 5.750% series U cumulative preferred stock and 5.700% series V cumulative preferred stock.

BofA Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC were joint book-running managers of the offering, which is expected to close on or about Nov. 4.