Home

CLO (collateralized debt obligations) owner Oxford Lane Capital Company (OXLC) updated their ‘at the money’ stock sales today. From 6/4/2020 to 12/3/2021 41.2 million shares have been sold leaving the company with 122.8 million shares outstanding. When…

As most of you know I am a really conservative investor–but even those with tolerance for more risk are forewarned to use caution around some of the new preferred issues and baby bonds of late. We have seen most of the really poor quality issues of la…

The S&P500 moved lower last week by about 1.5%. Of course the movement was an up and down affair with no conviction in either direction. Futures tonight are up 1/2%, but we will have to see if that holds. The 10 year treasury tumbled last week clos…

So we have hot inflation with the Fed tapering (and threatening a higher level of taper) and then we have a jobs report today that was extremely soft. 210,000 new jobs?? It is crazy, but I seldom believe these reports anyway–but folks act on them so w…

So in spite of the Jay Powell accelerated taper talk equities took off today with the S&P500 closing at 4577–up 1.42%. Guess we’ve decided that the Omicron variant is no big deal. In spite of stocks taking off the 10 year treasury rose by just 1 b…

Canadian healthcare services and technology company Skylight Health (SLHG) has sold a small new issue of perpetual preferred stock. The $25/share issue prices at 9.25% at $21/share for 275,000 shares with another 41,250 shares available for over-allotm…

OFS Credit Company (OCCI) has priced the previously announced term preferred stock issue. The issue has been priced at 5.25%. They are selling 1.22 million shares, plus another 180,000 available for over-allotments. The shares will have a mandatory red…

Eagle Point Credit Company (ECC) has announced a partial call on the 7.75% term preferred stock (ECCB). They will redeem 1.078 million shares or about 50% of the outstanding shares. The call date is 12/31/2021. The press release is here. Gary was on th…

Wow–what a crazy day it was in equities–up 600 and then down 400 or so–over a 1000 point range, ending down 462 Dow points. Guess chairman Powell didn’t back off the potential for a quicker taper today so we had to have a little tantrum–oh well–ge…

Last Friday I posted a note that Greenidge Generation (GREE), a crypto miner, had filed a registration statement for sales of additional baby bonds. The original 8.50% issue (GREEL) was sold on 10/11/2021 and after peaking at $25.40 has now turned lowe…

Prospect Capital (PSEC) has call a baby bond issue. The issue called is the 6.875% PBC issue which will be called on 12/30/2021–they become redeemable on 12/15/202. Shares had run up to $26 just a few days ago and today have plunged to $25.16 The fili…

CLO owner OFS Credit Company (OCCI) has announced they will be selling a new issue of term preferred stock. The company has 2 other issues outstanding which can be seen here. The company has stated they may redeem all or a portion of the series A 6.875…