Colony Financial (CLNY) Commences Preferred Offering
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Colony Financial, Inc. (NYSE: CLNY) has commenced an underwritten public offering of its shares of Series A Cumulative Perpetual Preferred Stock. Barclays Capital Inc, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint book-running managers for the offering. RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated are acting as co-managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock initially sold to the public to cover overallotments. The Company intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange.
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