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Monmouth commences public offering of preferred stock.

BANKING AND CREDIT NEWS-September 7, 2016-Monmouth commences public offering of preferred stock

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Monmouth Real Estate Investment Corporation (NYSE: MNR) has commenced an underwritten public offering of its Series C cumulative redeemable preferred stock (the Series C Preferred Stock), the company said.

RBC Capital Markets, LLC, BMO Capital Markets Corp. and J.P. Morgan Securities LLC are the joint book-running managers for the offering. Wunderlich Securities, Inc., Janney Montgomery Scott LLC and D.A. Davidson & Co. are co-managers for the offering.

The company said it intends to apply to list the Series C preferred stock on the New York Stock Exchange under the symbol MNRprC.

The company said it plans to use the net proceeds from this offering to redeem outstanding shares of its 7.625 percent Series A cumulative redeemable preferred stock.

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT) specializing in single-tenant, net-leased industrial properties.

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 7, 2016
Words:169
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