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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Monday, December 17, 12:24 PM

Slide #365. Taubman Centers, Inc. Preferred Stock Offering

Company: Taubman Centers, Inc. (NYSE:TCO)
Shares Offered: 6,000,000
Date of Pricing: 3/11/2013
Price Per Share: $25
Preferred Stock Offering Details: Taubman Centers, Inc. (NYSE: TCO) today announced the pricing of an underwritten public offering of 6,000,000 shares or $150 million of 6.25% Series K Cumulative Redeemable Preferred Stock at a price of $25.00 per share, pursuant to an effective registration statement. The company granted the underwriters an option to purchase up to an additional 900,000 shares within 30 days solely to cover over-allotments, if any. The offering is expected to close March 15, 2013, subject to customary closing conditions. The company may redeem, at its option, the Series K Cumulative Redeemable Preferred Stock at a redemption price of $25.00 per share on or after March 15, 2018.

Taubman Centers is a self-administered and self-managed real estate investment trust. The Taubman Realty Group Limited Partnership is a majority-owned partnership subsidiary of Co. that owns direct or indirect interests in all of Co.'s real estate properties. Co. owns, leases, acquires, disposes of, develops, expands, and manages regional shopping centers and interests therein.

Preferreds: TCO.PRJ, TCO.PRK


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Name:  Taubman Centers Inc
Website:  www.taubman.com
Sector:  REITs
Number of ETFs Holding TCO:  55 (see which ones)
Total Market Value Held by ETFs:  $233,881,430
Total Market Capitalization:  $3,138,000,000
% of Market Cap. Held by ETFs:  7.45%
 

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