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After market close today Moody’s downgraded the credit rating to Aa1 from Aaa. The 10 year treasury rose a few basis points on the news. We’ll see what kind of action this brings to interest rates next week. The other big credit ratings firms had alrea…

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. May 15, 2025 16:05 ET | Source: Fortress Biotech, Inc. Fortress Biotech Report…

I continue to be fairly conservative – still plenty of money in CDs and money markets–although I have been slowly moving to some higher yield vehicles over the last few months. With the inflation news just released (PPI) today is one to believe there…

Mortgage REIT Angel Oak (AOMR) has announced pricing on their new issue of $25 notes and it is a super high yield of 9.75%. There is no OTC trading of baby bonds prior to exchange listing The pricing term sheet can be read here.

Just 30 minutes ago Customers Bancorp (CUBI) announced a call of the 6.45% fixed to floating preferred (CUBI-E). The issue has been floating for almost 5 years and holders got complacent–shares will open down 60-70 cents tomorrow as it closed today at…

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. May 14, 2025 16:26 ET | Source: Vornado Realty Trust Vornado JV to Sell 512 We…

Smallish mREIT Angel Oak Mortgage REIT (AOMR) has announced they will be selling a new senior note offering with a maturity date in 2030. The company had issued a 9.50% issue last July which has traded around $25 since issuance. Nothing special about t…

In spite of interest rates that appear to be pretty sticky in the 4.48% area the last few days we have seen preferreds and baby bonds move a bit higher. Of course optimally interest rates drifting lower would have been helpful for a bigger push up. I d…

Banker First Busey (BUSE) has priced their previously announced issue of non cumulative preferred stock. They have price 8 million shares (and another 1.2 million for over allotment) with a coupon of 8.25%–shares are rated BBB- by Kroll Bond Rating ag…

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. May 13, 2025 16:05 ET | Source: CNB Financial CNB Financial Corporation Announ…

Banker First Busey (BUSE) has announced they will be selling a new issue of non cumulative fixed rate preferred stock. First Busey is a modest sized banker with about $20 billion in assets and was formed in 1980. As far as I know this is their first is…

NextEra Energy has priced their previously announced Jr. subordinated note offering. The issue prices at 6.50% and is rated Baa2, BBB and BBB by Moodys, S&P and Fitch respectively. There is no OTC trading on a baby bond. The pricing term sheet can…