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Tomorrow we have the official inflation gauge released by the federal government. Of course we can choose to believe or not believe whatever the number is that is released in the CPI report–I choose to not believe it–BUT I care how markets react to t…

Here is the detail for the new Ready Capital (RC) baby bond.

Ready Capital (RC) has priced their new issue of $25 baby bonds. While the SEC paperwork has not been filed the company issued a press release with some of the details. I will post the details when they are available. The issue prices at 5.75% and they…

REIT Ready Capital (RC) has announced a new issue of baby bonds (senior notes). This new issue has been expected as the company has a 6.50% baby bond issue (RCP) maturing on 4/30/2021. The ‘use of proceeds’ for the new issue state they will call the ba…

The Standard and Poor’s 500 moved nicely higher last week, reversing the previous weeks losses. The index traded in a range of 3726 to 3894 before closing the week at near the high at 3887. That is a 172 point move higher from the previous week. The 10…

Oxford Lane Capital (OXLC) has posted a new presentation for the quarter ending 12/31/2020. OXLC is a holder of collateralized loan obligations (CLO’s) mainly of the equity tranche. A quick glance shows OXLC is showing steady progress in rebuilding the…

Large mREIT Two Harbors Investment (TWO) has announced the redemption of 2 issue of preferred stock. They are redeeming their TWO-D 7.75% issue and their TWO-E 7.50% issue on 3/15/2021. Both of these issues were originally issued by CYS prior to TWO ac…

Terra Income Fund 6 (not exchange traded) has sold a new issue of $25 baby bonds. The notes, which mature in 2026, are priced with a coupon of 7%. The issue is fairly small as the company is small with just $76 million in assets (prior to this offering…

Amerco Corporation (UHAUL) released earnings and they had a very solid quarter. Revenue jumped by over 20% year over year, while net income rose 6 times as compared to the quarter a year ago. The earnings release can be seen here. I mention this earnin…

Update–Corrected CUSIP Insurer WR Berkley (WRB) has priced the previously announced $25/share subordinated notes. The issue prices at 4.125%–about where expected for an issue that is investment grade. The issue will trade in a week or so under ticker…

Insurer WR Berkley (WRB) is selling a new issue of Subordinated Notes that will have a maturity date in 2061. The issue will be investment grade from both S&P and Moody’s. The permanent ticker will be WRB-H when it begins trading in a week or so. T…

Ohio banker Huntington Bancshares (HBAN) has priced their new issue of preferred stock. The issue prices at 4.50%–about where expected. The issue is rated split investment grade—investment grade from Moody’s at Baa3, BB+ from Standard and Poor’s and…