Finance Investment Banking
Urstadt Biddle Sells $60M of Stock in Private Placement
March 25, 2008

Urstadt Biddle Properties Inc. has announced that it completed the sale of $60 million of a new Series E Senior Cumulative Preferred Stock in a private placement to WFC Holdings Corporation, a holding company for Wells Fargo Bank N.A. The stock pays preferential cumulative cash dividends at the rate of 8.5 percent a year, has no stated maturity date and is not subject to any sinking fund or mandatory redemption. The stock has a five-year no-call provision, after which it can be called only at the discretion of the company.

 
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