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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…

I will be adding a new link titled “Sandbox” in the right hand menu. That link will get you to this page. I had originally set up the “Reader Initiated Alert” page for ‘alerts’. I was thinking this, for instance, might be when a preferred stock is unde…

The new preferred stock issue from JPMorgan Chase (JPM) will trade immediately under OTC temporary ticker JPMMV. The issue priced at 4.20%–but in this Covid world the official documents have not been filed with the SEC. razorbackea has this pricing ye…

JPMorgan Chase (JPM) has announced they will be selling a new preferred stock issue. No doubt the issue will be a large one and will be qualified, but non-cumulative. JPM has a number of issues already outstanding which can be seen here. The preliminar…

UPDATE–The OTC grey market ticker is PEBBV (watch for any changes–lately they have made changes after the original announcement). Pebblebrook Hotel Trust (PEB) has priced the previously announced new preferred issue. The issue prices at 5.70%. They a…