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Well we have seen interest rates move up smartly over the last 3 months or so from all the way down around .85% back in December to as high as 1.60% (on a closing basis). So with muted inflation numbers being released by the government, employment numb…

The new perpetual preferred from banker JPMorgan Chase (JPM) has priced, but once again the official SEC data has not yet been posted — I will post that detail when it becomes available. The issue priced at 4.55%. The issue trades immediately on the O…

JPMorgan Chase (JPM) has announced a new issuance of preferred stock. The issue is non-cumulative, but will be qualified for preferential tax treatment. The banker has a number of other issues outstanding and they mention the possibility of redeeming s…

Below is the detail on the new baby bonds from Oxford Lane Capital. The issue is rated BBB from Egan Jones. You can find the info on this credit rating on the bottom of this page. There is no OTC grey market trading on this issue. The pricing term shee…

While the official paperwork has not been posted on the SEC site Oxford Lane Capital (OXLC) has priced their new issue of baby bonds. The issue, with a maturity date in 2031, carries a coupon of 6.75%. Interest payments will be paid quarterly. The comp…

Insurance company PartnerRE (not publicly traded) has priced their previously announced preferred stock. The company has priced 8 million shares with a coupon of 4.875%. The issue is investment grade with a BBB rating from Standard and Poor’s and Baa2…

Collateralized loan obligation (CLO) owner Oxford Lane Capital (OXLC) has announced they will be selling a new issue of baby bonds. The company has stated they will call a portion or all of the their 7.50% term preferred shares (OXLCO) with the proceed…

PartnerRE LTD (Not publicly traded) will be selling a new issue of $25 preferred stock. The shares will be non-cumulative, but qualified. The issue will be investment grade. PartnerRE has 3 other preferred stock issues outstanding which can be seen her…

Athene Holdings (ATH), a seller of annuities and other financial products will be bought by Apollo Global Mannagement (APO). Athene has 4 issues of preferred stock outstanding–they can be seen here. At this moment not all the details of the proposed a…

What does this week hold in store for us? Higher interest rates? Lower rates? No one has this answer, but we do know employment figures last Friday were stronger than anticipated and over the weekend the senate passed the new stimulus bill–sending it…

My apologies to all the folks that told me that this page had ‘comments closed’-obviously being old and I guess feeble minded it took me a while to figure this out. There are 2 potential issues that could be occurring when this happens–I fixed one rig…

Obviously investors are clamoring for short dated maturities any where they can find them. The new 5% Gladstone Investment baby bonds (GAINN) began trading today and investors drove the price right up to $25.61. With turmoil in the bond market it is ce…