Costamare Prices New Preferred

Costamare (NYSE:CMRE) has priced their new preferred issue mentioned earlier today with a coupon of 8.875%.

For the high yield investor with a bit of a taste for risk this could be a good issue to own. At this coupon we may even take a small position if we can get it in the OTC grey market at a good price (below $25).

The pricing document is here.

This issue is 4,600,000 shares with an overallotment quantity of 686,000 shares.

The pay dates are the January, April, July, October cycle on the 15th with the first payment to come in April

The proceeds will be used for general corporate purposes.

The OTC grey market ticker has not been announced yet.