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As expected U.S. Bancorp (UBS) priced a new issue of perpetual preferred stock with a very low coupon. The issue priced with a coupon of 3.75%–even lower than the ‘yield talk’–which has become the norm lately. This is NOT the lowest coupon preferred…

Leasing company General Finance (GFN) will be sell a new issue of Senior Notes with maturity in 2025. The company will use the proceeds to redeem a portion of their 8.125% notes due in 2021 (GFNSL) which can be seen here. The company has a $100/share 9…

US Bancorp (USB) will be selling a new preferred stock issue. This highly rated bank will likely garner a A3 from Moody’s and BBB from Standard and Poor’s which is where there current issues outstanding are rated. You can see the current issues outstan…

Nearly 3 years after the initial launch (in 1/2018) Gladstone Land (LAND) has listed their 6% perpetual preferred stock under ticker LANDO. The issue began to trade today and closed the day at $23.99. After trading in the $25/share area at the open tod…

The S&P 500 barely moved last week as the index rose by about 2/10% over the close the previous Friday—the range was 3440 to 3550–closing at 3482. The 10 year treasury traded in a range of .64% to .78% before closing at .74%. With employment now…

Closed end fund RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) has priced the previously announced new preferred stock offering. The issue priced with a coupon of 4.375%–pretty darned tasty for a A1 rated issue. This will be a ‘hot’ issue come…

Dave in Texas mentioned the big pop in CIT Group common shares early today–well how about their 5.85% preferred – up $2.32 on 12 times regular volume. Turns out that CIT is being acquired by regional lender First Citizens (FCNCB). I personally noticed…

Yesterday CEF RiverNorth/DoubleLine Strategic Opportunity Fund (OPP) announced they would be selling a new preferred issue. As of this moment no pricing (coupon) or further details have been announced–nor any OTC grey market ticker. Since the pandemic…

Only last week the 10 year treasury popped into the .80% area–but as has been the case all year, there is no follow through on anything higher–pop and drift lower–pop and drift lower. Right now rates are at .70% which has been the settling point for…

Closed end fund RiverNorth/Doubleline Strategic Opportunity Fund (OPP) has announced a new preferred stock offering. This is the 1st CEF preferred offering we have seen for quite a while and we will see what type of coupon the company is able to garner…

American Financial Group (AFG) has officially called their 6% baby bond issue (AFGH) for redemption on 11/15/2020, which is the 1st date the company was allowed to call them. The company has a gaggle of baby bond issues outstanding which can be seen he…

Last week the S&P500 was up by almost 4%. The markets are waiting and betting on a stimulus package from congress and as has been the case all year (or actually a few years) massive liquidity simply keeps moving markets higher. This likely won’t en…