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Giant reinsurance company Reinsurance Group of America Inc has priced a new giant issue of baby bonds (subordinated debentures) with a maturity date in 2052. The issue starts with a fixed rate of 7.125% until 2027 after which it will reset to the 5 yea…

A big down week again last week for the S&P500 as the index fell by 4.8% to close at 3873. The market just has been too optimistic on inflation. Interest rates again jumped and closed up by 13 basis points for the second week in a row and now is at…

Yikes–Fed Ex is getting crushed today after missing their revenue and earnings mark yesterday by a mile. Fed Ex is one of those ‘canary in a coal mine’ companies and this is not good news for the economy in general–not that I really need further data…

Below are some headlines of company’s with preferred stock or baby bonds outstanding. Valley National Bancorp Announces Pricing of Subordinated Notes Oaktree Specialty Lending Corporation and Oaktree Strategic Income II, Inc. Enter into Merger Agreemen…

Wow, I see triple net lease REIT Store Capital (STOR) is being acquired for $14 billion at a premium to yesterdays closing price of about 20%. Press release is here. I was pleasantly pleased to find the platform for bond buying on both eTrade and Fidel…

Below are headlines for soem company’s that have preferred stock or baby bonds outstanding. Navios Maritime Holdings Inc. Launches $20 Million Tender Offer for Its Series G and Series H American Depositary Shares TEN Ltd Reports Profits for the Second…

Just came across a new filing from lodging REIT Ashford Hospitality (AHT). I haven’t had time to go through it, but will tonight. The filing is here.

CHS, the giant Minnesota agricultural cooperative, must be rolling in the cash right now. The cooperative has announced that member/owners will receive a giant sized $1 billion in ‘patronage’ and equity redemption payments this fiscal year (ending Augu…

Just a couple random thoughts rattling around my mind this morning. Is everyone being too sanguine about energy prices coming down so much? Seems to me that that we are now starring into the winter season with massive potential heating costs ahead. See…

Below are some headlines from company’s which have preferred stock or baby bonds outstanding. Soluna Holdings, Inc. Extends Maturity Date of October Notes to April 2023 Dynex Capital, Inc. Declares Monthly Common Stock Dividend of $0.13 KKR Real Estate…

Well there is no wholesale ‘tossing out the baby with the bath water’ today in preferreds and baby bonds as I thought there might be, but prices eroded and I gave back all of the gains from the last few days–oh well I am focused long term. I added som…

After spending a month or two (or 6) focused on purchasing the securities of insurance company’s I have turned my focus to utility issues where the most recent drop in prices have helped highlight some darned good values. Of course with some interest r…