The company said it plans a cash tender offer for all outstanding 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock at $997.50 per share, plus accrued and unpaid dividends.

1. 01

   The company said it plans a cash tender offer for all outstanding 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock at $997.50 per share, plus accrued and unpaid dividends.

2. 02

   The company said it plans to pay the tender offer consideration and related fees and expenses with a portion of the net proceeds from the Notes Offering of junior subordinated notes. The offering is described in the preliminary prospectus supplement filed on May 6, 2024.

3. 03

   The company said it intends to commence the tender offer on or about May 7, 2024 and expects it to expire one minute after 11:59 1 P.M. New York City time on or about June 4, subject to extension or early termination. The company said its obligation to accept for purchase and pay for the shares is subject to the satisfaction of conditions, including the settlement of the Notes Offering.

4. 04

   As of the date of the report, the company said 800,000 Series B Preferred Shares were issued and outstanding, with an aggregate liquidation preference of $800 million ($1,000 per share).

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.