QUANTUMONLINE.COM SECURITY DESCRIPTION: Atlas Corp., 7.125% Senior Notes due 10/2027, issued in $25 denominations, redeemable at the issuer's option on or after 05/13/2023 at $25 per note plus accrued and unpaid interest, and maturing 10/30/2027. Interest distributions of 7.125% per annum ($1.78125 per annum or $0.4453125 per quarter) will be paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date).
Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders
Upon the occurrence of specific kinds of changes of control, the holders of the Notes will have the right to cause the issuer to repurchase some or all of your Notes at 101% of their face amount, plus accrued and unpaid interest.
Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest.
This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
