CharterMac, New York, has announced that its subsidiary Charter Mac Equity Issuer Trust has completed a $104 million preferred equity offering to institutional investors.The trust sold 60 of its 5.75% series A-4-1 perpetual preferred shares (with an aggregate liquidation amount of $30 million); 58 of its 6.00% series A-4-2 perpetual preferred shares ($29 million); 50 of its 6.00% series B-3-1 subordinate perpetual preferred shares ($25 million); and 40 of its 6.30% series B-3-2 subordinate perpetual preferred shares ($20 million). Merrill Lynch & Co. was the initial purchaser of the series A-4 preferred shares and the series B-3 preferred shares. CharterMac can be found online at http://www.chartermac.com.
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