As described on the earnings call on January 29, 2020, AT&T (NYSE: T) (“AT&T”) continues to add preferred equity to its capital structure, providing investors another alternative to invest in AT&T.
AT&T announced the issuance of €2,000,000,000 aggregate liquidation preference of its Fixed Rate Reset Perpetual Preferred Securities, Series B (20,000 shares, €100,000 liquidation preference per Preferred Security).
AT&T also announced the issuance of $1,750,000,000 aggregate liquidation preference of its 4.750% Perpetual Preferred Stock, Series C (70,000,000 depositary shares, with a liquidation preference equivalent to $25.00 per depositary share). Proceeds from the issuances will be used for general corporate purposes.
This press release is neither an offer to sell, nor a solicitation of an offer to buy, preferred securities or any other securities, and shall not constitute an offer to sell, or a solicitation of an offer to buy, or a sale of, preferred securities, or any other securities, in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.
Source: https://about.att.com/story/2020/series_b_series_c_preferred_shares.html
