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Well we had a week which saw the S&P500 hardly move–really one of the quietest weeks in years. The range was about 1% with a low of 6029 to a high of 6093–and ending on Friday with a loss of about 1/2% for the week. The economic news on the week…

The series C, 6% short duration term preferred (OPP-C) from closed end funds RiverNorth/Doubleline Strategic Opportunity Fund (OPP) is now trading somewhat ‘normally’–right around the liquidation value of $10. This ‘rights offering’ series sold with s…

Have the small bankers-community and regional bankers–been lagging in their recognition of bad commercial real estate loans? Their modified loans are substantially fewer than the big banks–with about $500 billion in loans coming due this year are we…

Newer closed end fund Pearl Diver Credit has priced their new issuance of term preferred stock with a coupon of 8%. The issue will have a mandatory redemption on 12/31/2029. This is a monthly payer. The pricing term sheet can be found here.

Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.  Earnings season is pretty much over so we will have slow news days for a month or two.  Dime Community Bancshares, Inc. Provide…

This morning we got some pretty hot producer price numbers—not that these will stop the FOMC from lowering rates next week. As typical the FOMC had their finger in the air and know that not delivering a cut would cause dramatic consternation in marke…

CLO owner and CEF Pearl Diver Credit (PDCC) has announced they are selling a new term preferred stock issue with a mandatory redemption in 2029. PDCC is new to me and certainly to the exchange traded preferred marketplace–this is their 1st issuance. T…

Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.  Earnings season is pretty much over so we will have slow news days for a month or two.  MFA Financial, Inc. Announces Dividend…

So the consumer price index came in right about as expected—must be time for equities to party at least that is what is happening. Back in July the S&P500 had a setback of about 5%, but other than that there have been no setbacks that are worth n…

Business development company Gladstone Investment (GAIN) has priced their new issue of baby bonds. The issue prices at 7.875% for 4.4 million shares (bonds) with another 660,000 for overallotments. The pricing term sheet can be seen here.

Both the equity markets and interest rate movements have been fairly tame this week, but today we have the potential to see some fireworks. In about 30 minutes we will have the CPI (consumer price index) released and while we have no real reason to bel…

Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.  Earnings season is pretty much over so we will have slow news days for a month or two.  Oxford Lane Capital Corp. Provides Nove…