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Closed end fund Aberdeen Income Credit Strategies Fund (ACP) has finally priced their new issue of preferred stock. The issue prices at a rock solid 5.25%. This issue is rated A2 by Moody’s and will be one of the highest rated preferreds outstanding. T…

Babcock and Wilcox Enterprises (BW) has announced they will be selling a new issue of preferred stock. They plan to sell 2 million shares with another 300,000 available for over allotment. This issue will be cumulative and qualified (assuming they have…

CEF Priority Income Fund is moving forward with a new issue of term preferred shares. The fund will use the proceeds of the new issue to redeem their PRIF-B 6.25% term preferred. The press release from the company is here. EarlyBird was early on this o…

Last week we saw the S&P500 barely move. There was a gain of exactly 1 point on the week. The range on the week was just about 1%. It has been rare that we have seen such tight ranges in the last year. The 10 years treasury traded in a range of 1.5…

In what has become a never ending issuing of new term preferred stock issues non traded CEF Priority Income Fund (PRIF-used for sorting only) has once again registered another term preferred stock issue. The new registration/preliminary prospectus can…

As fair as I know we are still awaiting pricing and ticker information for some recently announced new issues. The previously announced new preferred from CEF Aberdeen Income Credit Strategies (ACP) has not been priced as far as I know. I did see that…

As expected the new preferred issue from Capital One Financial (COF) has priced at low levels. The non cumulative, split investment grade issue, prices at 4.375%. The issue trades immediately on the OTC grey market under temporary ticker COFPL. The pri…

Banker Capital One Financial (COF) has announced they will be selling a new issue of preferred stock. The company already has 5 issues outstanding which can be seen here. None of the these issues are currently redeemable. The issue will be split invest…

Finally REIT Lument Finance Trust (LFT) has priced the new preferred announced earlier this week. The issue is cumulative, but non-qualified. Trading will start soon on the OTC grey market, but as of this moment the ticker has not been announced–I wil…

Banker First Horizon Corporation (FHN) has priced the previously announced preferred stock issue. The issue prices at 4.70%–about where expected given the recent offering from other bankers. The issue 2 notches below investment grade. The issue trades…

Banker First Horizon Corporation (FHN) has announced they will be selling a new preferred issue with the intention of redeeming the 6.20% FHN-A issue. The new issue is non-cumulative and likely will be rated a notch below investment grade. Once again i…

Closed end fund (CEF) Aberdeen Income Credit Strategies Fund (ACP) has announced they will be selling a new issue of $25 preferred stock. As always I am pleased that another closed end fund comes to market with a preferred–in spite of generally lower…