Looks like it opened up at $25.77 so the market likes the 6.875% on this pfd. I never saw a pink sheet symbol so never had a shot at buying it close to par.
I was hoping to take a significant position in BFS-C if I could get it close to par. This is disappointing. The big boys are playing in our pond and there are few if any bargains left as REIT preferred yields are being driven lower and lower.
Wish I could get 9% like Buffett just did in his HNZ deal.John
I was also intrigued by this one and planned to take a substantial position, as I thought it was mispriced. As a result, I was watching for this one to come up in the pink sheets, but never found it. Just curious if anyone actually got shares in the pink sheets. Ron
This never came up on the OTC market before hitting the NYSE. It's a shame it didn't, as many of the new preferreds hit the otc first, giving us a better chance of a buy at an under par entry price. I had also hoped for a significant purchase, as I think this company has a fairly good long term track record.
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