Strive Prices $630 Million SATS Preferred Offering at $90
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Strive’s SATS preferred offering carries an implied simple annual yield of 16.7% at its $90 offer price, according to The Defiant.
Strive has priced a $630 million offering of SATS preferred securities at $90, The Defiant reported.
The securities have a $100 dividend base. At the offer price, that translates to an implied simple annual yield of 16.7%.
The implied yield exceeds the initial 15% rate cited for SATA by about 1.7 percentage points. The source did not provide further offering terms in the available summary.
Source: The Defiant
