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Last week was a rare down week for the S&P500 as the index fell by 1.4%. The index had been down over 4% midweek as ‘hot’ inflation numbers were released–but by late in the week investors were moving prices ahead again. In spite of hot inflation n…

While the SEC documents (FWP-Free Writing Prospectus) has not yet been filed we have the press release from Acres Commercial Realty Corporation (ACR) giving us most of the details of the previously announced preferred stock issue. The cumulative, non q…

Banker JPMorgan Chase (JPM) has priced their new preferred stock issue. The issue prices at 4.625% for 74 million shares. The issue is non-cumulative, qualified and investment grade. The issue trades immediately under OTC grey market ticker of JPMLP Th…

Oxford Square Capital Corporation (OXSQ) has priced their new $25 baby bonds. The coupon will be 5.50%. The issue will have an optional early call available to the company in 2024 with final maturity being in 2028. This issue is rated BBB by Egan Jones…

Giant banker JPMorgan Chase (JPM) will be selling a new issue of preferred stock in what is a ‘refi’ transaction. The company has 6 $25 issues outstanding of which 2 are currently redeemable. The 6.10% JPM-G and 6.15% JPM-H issues were both called on 4…

Commercial mortgage REIT Acres Commercial Realty (ACR) is going to be selling a new issue of preferred stock. The company, which was previously Exantas Capital, has 1 fixed-to-floating rate preferred outstanding–it is the 8.625% ACR-C issue which beco…

Great Elm Capital Corporation (GECC), a BDC, will be selling a new issue of $25 Notes with a maturity in 2026. The company will use the proceeds to call their 6.50% notes (GECCL) which mature in 2022. No harm comes to holders as they are trading at $25…

Oxford Square Capital Corporation (OXSQ) has announced they will be selling a new issue of $25 baby bonds. The new issue will mature in 2028 and has an early call period available to the company starting in 2024. The company currently has 2 issues of b…

Well after going with the ‘transitory’ story line on inflation markets have decided this week to reject that story line. Of course, whether it is transitory or not won’t be known for months. With the hot consumer price index numbers this morning invest…

Lodging REIT Sunstone Hotel Investors (SHO) has priced their new perpetual preferred stock issue. The issue prices at 6.125%. The issue is cumulative, non qualified and unrated. The proceeds of this issue will be used to redeem the 6.95% SHO-E preferre…

Look like a lot of folks bailing out today—not only of common stocks but income issues as well. Seldom do we see such widespread selling–everywhere you look. Preferreds and baby bonds are off 1%–this on the back of interest rates moving a few basis…

Another of the stronger lodging REITs will be ‘refinancing’ one of their preferred issues with a new issuance of preferred stock. Sunstone Hotel Investors (SHO) will be selling a new cumulative preferred issue and will be redeeming the 6.95% SHO-E pref…