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Insurer Assurant Inc. (AIZ) has priced their previously announced subordinated notes. The issue was priced at 5.25%. The issue is rated Ba1 by Moody’s and BB+ by Standard and Poor’s–both 1 notch lower than investment grade. The issue will pay quarterl…

Large insurance company Assurant Inc (AIZ) has announced they will be selling some $25/share subordinated notes. The $44 billion asset company will sell notes with the typical terms–including the ability to defer interest payments for up to 5 years on…

Ready to get a new week underway and get back in the swing of things after 5 days on a ranch in Arizona, although after being 5 days without a TV and work it may take the better part of this coming week to get ‘fired up’ again. The S&P500 moved in…

I will be out of the office some in the next couple of days so will be slow to get new issue information posted. Reader initiated alerts will have them very quickly as is typical.

Insurer Brighthouse Financial Inc (BHF) has priced their newly announced preferred stock issue. As expected the issue comes with a coupon of 5.375%. They will be selling 20 million shares with an over allotment of another 3 million shares–for potentia…

Insurance and annuity company Brighthouse Financial Inc. (BHF) has announced a new issue of non cumulative preferred stock. The terms are normal for a large insurer–non cumulative, but qualified for preferential tax treatment. The company currently ha…

Self storage giant Public Storage (PSA) priced a new preferred stock issue right where expected. The coupon is 3.90%–just 2 1/2 basis points above the last issue sold in September. As with all REIT preferreds the issue will be cumulative, but not qual…

I had previously mentioned that I would be adding a ‘forum’ to the website and I wanted to update folks on progress. I have the forum installed–at least the basic framework. I am now testing some functions (i.e. search capabilities etc). Right now I a…

Once again self storage giant Public Storage (PSA) is going to offer a new preferred stock. While normally the company, which has many preferred issues outstanding, would call an old issue of preferreds they have none that are callable until 1/2021. Th…

Entergy Louisiana, a subsidiary of utility giant Entergy (ETR) has announced a new $1000 bond issue. The company will be calling 2 $25 baby bond issues now outstanding. The 4.70% issue (ELU) which became callable in 2018 and the 5.25% issue (ELJ) which…

Equity futures are way, way up on a Pfizer announcement of a highly effective Covid 10 vaccine. With the S&P500 up by 3-4% you would expect higher interest rates–and we have the 10 year treasury up by 11 basis points–at .93%. If this rally contin…

Some earnings that are out that are of interest to me (and maybe you). Amerco (UHAUL) announced earnings that almost doubled the year ago quarter on strong revenue. Earnings plus non cash depreciation charges amounted to almost $400 million. Those of u…