Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tuesday, April 16, 6:12 AM
Slide #424. CHS Inc. — Preferred Stock Offering
| Company: |
CHS Inc. (NASDAQ:CHSCP) |
| Date announced: |
9/9/2014 |
| Security type: |
Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 3 (NASDAQ:CHSCM) |
| Shares Offered: |
19,000,000 |
| Date of Pricing: |
9/9/2014 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
CHS Inc. (NASDAQ: CHSCP) today announced the pricing on Sept. 8, 2014 of 19,000,000 shares of Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 3 (the "Class B Series 3 Preferred Stock") with a liquidation preference of $25.00 per share. Dividends on the Class B Series 3 Preferred Stock will accumulate at a dividend rate of 6.75% per annum to, but excluding, Sept. 30, 2024, and thereafter, at an annual rate equal to three-month LIBOR, as determined for the applicable quarterly period, plus a spread of 4.155%, but in no event will the sum of such annual rate and spread be greater than 8% per annum. |
CHS is an integrated agricultural cooperative, providing grain, foods and energy resources to businesses and consumers on a global basis. Co.'s reportable segments include: Energy, which produces and provides primarily for the wholesale distribution and transportation of petroleum products; Ag, which purchases and further processes or resells grains and oilseeds originated by its country operations business, by its member cooperatives and by third parties and also serves as a wholesaler and retailer of crop inputs; and Nitrogen Production, which consists of its equity method investment in CF Industries Nitrogen, LLC and produces and distributes nitrogen fertilizer.
Preferreds: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL
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