Preferred Stock Channel
CAI International Inc | 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (CAI.PRB)

Prospectus excerpt:  We are offering 1,700,000 shares of our 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25.00 per share (the ˘Series B Preferred Stock÷). Dividends on the Series B Preferred Stock accrue daily and will be cumulative from, and including, the date of original issue and shall be payable quarterly on the 15th day of each January, April, July and October. The first dividend on the Series B Preferred Stock is scheduled to be paid on October 15, 2018 in the amount of $0.36597 per share of Series B Preferred Stock to the persons who are the holders of record of the Series B Preferred Stock at the close of business on October 1, 2018. The Fixed Dividend Rate (as defined herein) shall accrue from, and including, the date of original issuance to, but not including, August 15, 2023. On and after August 15, 2023, dividends on the Series B Preferred Stock shall accrue at an annual rate equal to the sum of (a) Three-Month LIBOR (as defined herein) as calculated on each applicable Date of Determination (as defined herein) and (b) 5.687% of the $25.00 liquidation preference per share of Series B Preferred Stock.

Full Prospectus PDF », CAI Page »

Series:B
Alternate symbology:CAI-B, CAI-PB, CAIprB
Redeemable?:Yes
Call Date:8/15/2023
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:1,700,000
Overallotment:255,000
Liquidation Preference:$25
Recent Market Price:$14.06
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-10.94 (-43.76%)
Annualized Dividend:2.1248
Recent Ex-Date:3/31/2020
Current Yield:15.11%
Original Coupon:8.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CAI International is a transportation finance and logistics company. Co. has three reportable segments: container leasing, rail leasing and logistics. The container leasing segment is engaged in ownership and leasing of containers under three main types of leases: long-term leases, short-term leases, and finance leases. The rail leasing segment is engaged in the ownership and leasing of railcars under three types of leases: full service leases, net operating leases and per diem leases. The logistics segment is engaged in the provision of logistics services including intermodal, truck brokerage, port drayage, warehousing, international ocean freight and freight forwarding, among others.

Preferreds: CAI.PRA, CAI.PRB


Open the CAI Information Page »
Name:  CAI International Inc
Website:  www.capps.com
Sector:  Air Services Other
Number of ETFs Holding CAI:  21 (see which ones)
Total Market Value Held by ETFs:  $21,832,435
Total Market Capitalization:  $249,000,000
% of Market Cap. Held by ETFs:  8.77%

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