NorthStar Realty Finance Announces Public Offering of Additional Shares of its 8.25% Series B Preferred Stock
NorthStar Realty Finance Corp. (NYSE: NRF) (the "Company") announced today that it has commenced an underwritten public offering of additional shares of its existing 8.25% Series B Preferred Stock. The Company expects to grant the underwriters a 30-day option to purchase additional shares of Series B Preferred Stock solely to cover over-allotments.
UBS Investment Bank and Citigroup are acting as the joint book-running managers of the offering. Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as the co-lead managers of the offering and JMP Securities, MLV & Co. and Sterne Agee are acting as the co-managers of the offering.
The Company intends to use the net proceeds of the offering to make investments through our operating partnership relating to its business, to repurchase or pay its liabilities and for general corporate purposes.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.