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We noted a lot of talk that the new Algonquin Power and Utilities 6.2% baby bonds are not trading on the NYSE as of yet–but apparently with a phone call a purchase can be made. We see that the issue is trading on the ‘bond desk’ and last traded at $25…

As we mentioned we had entered an order for the new Tristate Capital (NASDAQ:TSC) 6.375% fixed-to-floating rate preferred (TRSXL) this morning. Our initial bid was $25.30, but it appeared this was inadequate, but didn’t intend to chase. We went ahead a…

With the sP500 tumbling hard today we always look for “spillover” to the sectors we invest in–and there essentially is none. With the Chinese trade situation and the more nasty political tone we observe in Washington DC we are watching for a potential…

The pricing term sheet for Ladenburg Thalmann (AMEX:LTS) has finally shown up on the SEC site for their new 7.75% baby bonds with a maturity in 2029. The bonds will trade under ticker LTSH in the next week. Larger blocks have been trading at prices of…

CLO owner Eagle Point Credit (NYSE:ECC) has called for early redemption of the 7.75% ECCA term preferred effective 6/28/2019. These shares have a mandatory redemption in 2022. The company will redeem 909,000 shares of the $25 issue (we show the issue w…

Bank holding company Tristate Capital (NASDAQ:TSC) has priced their new issue of fixed to floating rate preferred. The shares are priced with a nice 6.375% initial coupon which remains in effect until 2026 after which the coupon will float at 3 month L…

Financial services company Ladenburg Thalmann (AMEX:LTS) has announced pricing for their new baby bonds. The pricing comes at a juicy 7.75% for 2 millions shares (bonds). There is an additional 300,000 shares available for over allotments. The press re…

TriState Capital Holdings (NASDAQ:TSC) will sell a new issue of fixed-to-floating rate preferred stock. Of course the dividends will be non-cumulative, but qualified. Details are not know at this time excepting the issue will have a fixed coupon until…

Ladenburg Thalmann (AMEX:LTS) will sell a new issue of baby bonds with a maturity date in 2029. Details are not yet available. These will not be high quality, but the preferreds and baby bonds the company has outstanding have performed fairly well of t…

Wow–what a lousy day for these two companies. TeeKay Offshore (NYSE:TOO) will potentially be bought by Brookfield Business Partners (NYSE:BPY) for $1.05/common unit for those they don’t already own. The fear is one of a potential delisting or suspensi…

Canadian Brookfield Business Partners LP has made an offer to purchase the publicly traded units of TeeKay Offshore (NYSE:TOO) that it doesn’t already own. The offer was for $1.05/unit–shares are trading at that level now–no premium in the offer. Rec…

Last week was little better week for stocks as the SP500 opened the week around 2840 and hit a high in the 2888 area before closing at 2859–up a bit for the week. The 10 year treasury moved in a narrow range of 2.37% to 2.42% before closing out the we…