Home

Tennessee banker Pinnacle Financial Partners (PNFPB) has priced the previously announced preferred stock issue. The non-cumulative issue comes to market at a coupon of 6.75%. They have sold 4.8 million shares and there are another 720,000 available for…

New issues are coming fast after the month or two break we had in March and April. Huntington Bancshares (HBAN) has announced a new non cumulative perpetual issue. The issue should be split investment grade–BB+ by Standard and Poors and Baa3 by Moodys…

Large tanker fleet owner Scorpio Tankers (STNG) has priced their previously announced senior unsecured notes. These notes are unrated. The notes are priced at 7% and they will offer 1 million shares (bonds). plus 150,000 for over allotment. Shares will…

The new baby bond from banker Hancock Whitney (HWC) has priced with a relatively tasty coupon of 6.25%. The issue is investment grade. The permanent ticker will be HWCPZ, which will be used once trading begins on NASDAQ in the next week or so. There is…

While common stocks party on the backs of extreme liquidity from government agencies of all sorts it looks like preferreds are joining in. A few weeks ago I started doing a little dividend capture and new issue ‘flips’–given that I am flush with plent…

Banker Hancock Whitney (HWC) has announced a new $25 subordinated note issue. The issue will be an investment grade issue—BBB- by Standard and Poors and Baa3 by Moodys. The issue will have a permanent ticker on the NASDAQ market of HWCPZ when it fina…

Following the saying ‘get it while the getting is good’ a new baby bond have been announced this morning. Giant tanker ship owner Scorpio Tankers (STNG) has announced a new baby bond issue. The senior unsecured note is due in 2025 and should trade unde…

The S&P500 traded in a range of 2914 to 2980 last week before closing the week at 2955–a gain of 1.5% or so. The 10 year treasury moved in a range of .648% to .744% and closed the week near the low at .657%. The Fed Balance Sheet moved over $7 tri…

mREIT New York Mortgage Trust (NYMT) has released the results of their financials for the quarter ending 3/31/2020. NYMT held residential mortgages and securities as well as multi family loans and other commercial mortgage backed securities. The compan…

Finally the detail on the new American Financial Group (AFG) has been released. The issue should trade in the next week or so. You will have to check your broker website to see when it trades–or if you are impatient you can place a phone call to your…

Insurer American Financial Group (AFG) has priced their new issue of subordinated notes. The SEC documents have not yet been filed so I will post further detail tomorrow morning. The coupon will be 5.625%. The ticker will be AFGD. Standards and Poor’s…

Insurer American Financial Group (AFG) will be selling a new issue of subordinated debentures. The company currently has 3 other issues outstanding which can be seen here. The company will have the right to defer interest payments for up to 5 consecuti…