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Prudential Financial (PRU) will sell a new issue of $25 baby bonds. The Junior Subordinated Notes will have a maturity date in 2060 and a optional redemption date of 9/1/2025. The company currently has 3 other baby bonds outstanding, 2 of which are cur…

Pennsylvania banker CNB Financial Corp (CCNE) will be selling a new non cumulative preferred issue. CNB Financial is a fairly small banking company with just $4.4 billion in assets. The issue will be fixed rate and have the typical optional redemption…

The S&P500 traded in a range of 3326 to 3379 before closing the week at 3373–there was a gain of a bit less than 1% on the week. The 10 year treasury yield traded in a range of .55% to .72% before closing at .71%–the highest weekly close since Ju…

Federal Agricultural Mortgage Corp (AGM) has priced their previously announced new non-cumulative preferred. The issue will carry a coupon of 5.25% and will be non-cumulative, but qualified. The company also announced a call (although no official notic…

Federal Agricultural Mortgage Corp (also known as Farmer Mac) (AGM) will be selling a new non-cumulative preferred stock. Few details are know on the new issue as of this moment as Farmer Mac doesn’t file with the SEC in the same manner as most compani…

The OTC ticker was changed to PSAGL Public Storage (PSA) has priced their new preferred stock issue at the rock bottom low coupon of 4.125%. They will be selling 8 million shares with another 1.2 million available for over allotment. With this coupon t…

Giant storage REIT Public Storage (PSA) has announced they will be doing a new cumulative preferred stock offering. Being a high investment grade rated REIT we all know this will be a low coupon–‘Dave in Texas’ is guessing 4.50%. PSA last came to the…

Smaller banker Level One Bancorp (LEVL) has finally priced the new preferred issue they announced 2 weeks ago. The issue has priced at a high 7.50%. The issue is unrated except by Kroll Bond Rating service which rates it a BB+. The issue is non cumulat…

Midwest cellular company US Cellular (USM) has priced their previously announced baby bond issue. The issue priced at 6.25% for 20 million shares (bonds). The company has 3 issues currently outstanding and 2 of 3 are currently callable with coupons of…

Midwest telecom company U.S. Cellular (USM) has announced that they will be selling some Senior Notes. The notes will have an early redemption period starting in 2025. The permanent ticker will be UZD once they begin trading on the NYSE in a few days–…

The S&P500 moved higher again last week as bad news is good news and good news is great news. The index moved in a range of 3285 to 3353 closing right near the high of 3351—the index gained around 2.5%–another week like this and we will have a n…

Up until last week I held the Entergy New Orleans 5.50% baby bonds (ENO) in my portfolio–you snooze you lose on this one. Obviously I sold it–I wan’t snoozing, but I might have been dozing a bit. Everyone wants safety—everyone–plus a decent coupon…