DDR Corp Announces Pricing Of $200 Million 6.50% Cumulative Redeemable Preferred Stock
DDR Corp announced that it has priced an underwritten public offering of 8,000,000 depositary shares, each representing a 1/20 fractional interest in a share of its newly designated 6.50% Class J Cumulative Redeemable Preferred Shares at a price of $25.00 per depositary share. The offering is expected to close on or about August 1, 2012, subject to customary closing conditions. DDR intends to apply to list the depositary shares on the New York Stock Exchange under the symbol DDR PR J. If the application is approved, DDR expects trading of the depositary shares on the New York Stock Exchange to commence within the 30‐day period after the initial delivery of the depositary shares. J.P. Morgan Securities LLC is serving as sole book-running manager for the offering; BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are serving as co-managers for the offering.
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