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I’m quite anxious to hear what the Fed Chair has to say at the conclusion of the FOMC meeting midday. Just watching stocks and bonds one has to believe there will be no extreme reaction after the announcement and press conference–not that it makes any…

I note there are many questions on calls and mailings that folks are getting from Priority Income Fund. I have gotten the same mailings (just yesterday in fact). Whether you hold the common OR preferred shares you have 1 vote per share. Unlike most pre…

As a holder of ‘senior securities’ (debt or preferred shares) I always like to see common shares being sold by a CEF to help build the total net assets (not the common share net asset/share–BUT the total net assets of the company). This helps build th…

In what I assume is another private placement by Gabelli, the Gabelli Global Small and Midcap Value Trust has sold a new preferred issue. The press releases states they have sold a 4% cumulative perpetual preferred issue. 4 million shares have been sol…

Fossil Group (FOSL) has announced their intention to sell a new issue of $25 senior notes with a maturity date in 2026. The notes will have an early redemption available starting on 11/30/2023 on a sliding scale of redemption prices starting at $25.50…

Last week we continued to see movement of stocks to the upside with the S&P500 moving.another 1.3% higher. With a closing level of 4605 the index is at record highs—again. Interest rates remained tame with the 10 year treasury closing at 1.56%—…

It is time to do a case study on some preferred stocks. It is not often that we have an issuer sell not only ‘term preferreds’ but ‘perpetual preferreds’ as well. This situation lends itself to a study of how the price of a ‘perpetual’ acts versus pric…

Below are the details of the previously announced 4.625% non-cumulative preferred stock from Bank OZK (OZK). We are looking for immediate trading under OTC ticker OZKKV (expect this ticker to change in a day or two) Further details of this offering can…

Bank OZK (OZK) has priced a new issue of non cumulative, qualified preferred stock. 14 million shares priced at 4.625%. The SEC document has not been published, but the company press release can be found here. Further details will be posted when docume…

The new preferred stock from Bank OZK (OZK) will be OZKKV on the OTC market. Look for this to change after a day or two. Official pricing has not been posted as of yet.

Bank OZK (OZK) (previously Bank of the Ozarks) has announced an offering of new non cumulative preferrred stock. Terms of the issue will be typical–non cumulative with an optional redemption date about 5 years out. The issue will be qualified. The per…

Business development company (BDC) Logan Ridge Finance (LRFC) has announced they have sold $50 million worth of private placement notes with a coupon of 5.25%. They stated they plan to redeem a portion of the 6.00% notes due 2022 (CPTAL). No firm annou…