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Nobody is really excited about the plethora of low coupon preferred’s being issued lately, although I see a few folks are buying them–including me. As I always have to do–I just can’t help myself, I have bought a couple issues lately that I normally…

Fulton Financial (FULT) has priced the previously announced issue of investment grade preferred stock. Shares priced at 5.125%. Shares are rated Baa3 by Moody’s and not rated by Standard and Poor’s. Dividends are qualified, but non cumulative and have…

Pennsylvania banker Fulton Financial Corp (FULT) has announced the intention to sell a new issue of non cumulative preferred stock. The regional banker, with $24 billion in assets, will sell a $25/share issue with typical terms–non-cumulative, qualifi…

Container and storage lessor General Finance (GFN) has finally priced their new issue of baby bonds. The issue priced at 7.875%. They will be selling 2.4 million baby bonds with another 360,000 available for over allotments. The issue will be redeemabl…

UPDATE–the OTC ticker is WFCCL Banker Wells Fargo & Company (WFC) has priced their new issue of preferred right about where it was predicted to price–4.70%. The issue is a giant issue with 46.8 million shares being sold (no over allotment). No do…

Giant Banker Wells Fargo & Company (WFC) has announced they will be selling a new $25 preferred stock issue. Nothing unusual about this issue–it will be non-cumulative, qualified and optionally redeemable in 2025. The banker includes ‘redemption o…

Small specialty mREIT Sachem Capital (SACH) has re-opened their 7.75% notes due 2025. The notes trade under ticker SCCC and can be seen here. Originally the company had sold just 520,000 notes for gross proceeds of $13 million. The re-opening amount is…

As expected U.S. Bancorp (UBS) priced a new issue of perpetual preferred stock with a very low coupon. The issue priced with a coupon of 3.75%–even lower than the ‘yield talk’–which has become the norm lately. This is NOT the lowest coupon preferred…

Leasing company General Finance (GFN) will be sell a new issue of Senior Notes with maturity in 2025. The company will use the proceeds to redeem a portion of their 8.125% notes due in 2021 (GFNSL) which can be seen here. The company has a $100/share 9…

US Bancorp (USB) will be selling a new preferred stock issue. This highly rated bank will likely garner a A3 from Moody’s and BBB from Standard and Poor’s which is where there current issues outstanding are rated. You can see the current issues outstan…

Nearly 3 years after the initial launch (in 1/2018) Gladstone Land (LAND) has listed their 6% perpetual preferred stock under ticker LANDO. The issue began to trade today and closed the day at $23.99. After trading in the $25/share area at the open tod…

The S&P 500 barely moved last week as the index rose by about 2/10% over the close the previous Friday—the range was 3440 to 3550–closing at 3482. The 10 year treasury traded in a range of .64% to .78% before closing at .74%. With employment now…