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The S&P500 moved lower last week–a rare down week, but only lower by about .4%–a measly 17 S&P points. The range w really tight as well for the week–a low of 4372 and a high of 4430. The 10 year treasury closed the week at 1.239% which was a…

B Riley Financial (RILY) will once again sell a new issue of baby bonds. The new issue will mature in 2028. The company already has many issues of baby bonds and preferred stock outstanding which can be seen here. The new issue will offer a bonus for e…

In the right hand menu I have added to new discussion areas. Bond Discussion HDO Rants As with everything we have in the right hand menu it is simply to isolate certain topics which allows other areas to be reserved for their specific need. By keeping…

Early today PTrader posted on the Reader Initiated Alerts page that Altura Infrastructure Partners suspended their preferred unit distributions. Thanks for the early post. The announcement is here. Altera is controlled by giant Brookfield Business Part…

Silvergate Capital (SI) has priced their previously announced new issue of preferred stock. The company priced 8 million $25/share preferred stock with a coupon of 5.375%. The issue is non-cumulative and qualified. The issue carries a junk rating from…

Small California banker Silvergate Capital Corp (SI) will be selling a new issue of preferred stock. SI has no other outstanding issues of publicly traded preferred stock. This is a small bank with assets of $7 billion. The terms will be standard banki…

THERE SEEMS TO BE CONFUSION–HERE FROM THE MERGER DOCUMENTS The distribution rate for the New LP Preferred Units will be 6.25% per annum of the $25.00 liquidation preference per unit (equal to $1.5625 per unit per annum). The distribution rate per annu…

I made a number of website changes and all seem good except for the ‘dislike’ button. I would say the majority of folks are not fans of the dislike button–some are fine with it. With further thought I am not sure what ‘dislike’ adds to the overall val…

The previously announced new preferred issue from Capital One Financial (COF) has been priced. The company has sold 17 million shares with a coupon of 4.25%. The issue is split investment grade – S&P is BB and Moody’s is Baa3. Fitch is BB+. The iss…

Always on the search for more dividend income in these times of low coupons I have been looking at the newer Eagle Point Credit 6.50% term preferred (ECCC) which was issued on 6/10/2021. This is a monthly payor and has kind of a strange price pattern a…

Capital One Financial (COF) has announced that they will be selling a new issue of $25/share preferred stock. The permanent ticker will be COF-N (OTC grey market ticker to be announced later. The issue will be split investment grade. COF has many other…

NOTE–WITH ALMOST ALL THE NEW PREFERRED ISSUES OF LATE THE OTC GREY MARKET TICKERS CHANGE AFTER INITIAL PUBLICATION. FOR INSTANCE THE PEBBLEBROOK HOTELS ISSUE BELOW WAS INITIALLY ASSIGNED PEBBV–WHICH THEN WAS CHANGED TO PEBBP. BE AWARE OF THE POTENTIA…