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Banker Regions Financial Corporation (RF) has priced the new preferred stock issue which was previously announced. The issue prices at 4.45%. The issue is a notch below investment grade. Issue will trade immediately under OTC grey market ticker RFPEL….

I hope everyone got in the new issues from Textainer Group Holdings 7% reset preferred (TGH-A) and KKR Real Estate Finance 6.50% perpetual (KREF-A)–I am pretty certain that there are a lot of holders (or maybe previous holders) of these new issues on…

Regional banker Regions Financial (RF) has announced a new issue of preferred stock. Shares will be non-cumulative and they are rated 1 notch under investment grade by S&P and Moody’s (BB+ and Ba1). The company currently has 3 issues outstanding of…

Lument Finance Trust (LFT) will be selling a new issue of cumulative preferred stock. This tiny REIT (a market cap of $94 million) is unknown to me and obviously with a common share price of $3.78/share a deep dive is in order before any purchase of th…

After a rough start to last week with the S&P500 down near 2% the index ended the week off by just 1/10%. A stellar performance as talks of capital gains tax hikes put a very temporary fear into the market. Of course all downside moves are bought a…

Well the new 6.75% fixed rate preferred from tiny Louisiana banker First Guaranty Bancshares (FGBI) started to trade today. I wanted a taste of this issue–say 500 shares–not as a hold, but more of a couple week flip for steak dinners (maybe 50 cents/…

UPDATE–OTC Grey market ticker is FGBIL. Below are the details of the new preferred stock issue from small Louisiana banker First Guaranty Bancshares (FGBI). This is a small bank of $2.5 billion in assets and a review of their financials showed them to…

Ally Financial (ALLY) has announced they will redeem 53.2% of the ALLY-A 8.125% fixed-to-floating rate trust preferred shares outstanding. The redemption date is 5/24/2021. The announcement is here. The company sold a $1,000/share 4.70% fixed rate rese…

While the SEC free writing prospectus (FWP) has not been posted to the SEC website we do have a press release giving some details of the new First Guaranty Bancshares (FGBI) preferred stock. The issue prices at 6.75% for 1.2 million shares (with anothe…

UPDATE–the OTC grey market ticker is OCCPP Below are the details of the new OFS Credit (OCCI) term preferred shares. No OTC grey market ticker has been announced and many times when NASDAQ is the permanent exchange they will skip the OTC grey market a…

OFS Credit Company (OCCI) has priced the previously announced term preferred stock. Note that the ‘official’ SEC FWP (free writing prospectus) has not been posted on the SEC website, but we have company press releases with some details. The issue price…

The new baby bond from KKR Finance is now trading under ticker KKRS. The issue, with a coupon of 4.625%, shot out of the gate with and is now trading at $25.81. J noted the trading start.