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THE OTC GREY MARKET TICKER IS TMPHL. Triumph Bancorp (TBK) has priced their previously announced issue of perpetual preferred stock. The issue priced at a fixed rate of 7.125%. The issue is non-cumulative and qualified. It is unrated by the major ratin…

Giant office property REIT Office Properties Income Trust (OPI) has priced the previously announced senior note issue. The issue carries a fixed rate of 6.375%. Being debt the interest payments are not qualified. The issue matures on 6/23/2050 and has…

Small Texas Banker Triumph Bancorp (TBK) is selling a new fixed rate non cumulative preferred The issue will be non-cumulative, qualified and optionally redeemable starting 6/30/2025. The company also released a presentation which can be read here. The…

Office REIT Office Properties Income Trust will be offering some baby bonds with a maturity in 2050. The ticker will be OPINL and the baby bonds will trade on NASDAQ. The issue will not trade on the OTC grey market, but you might be able to secure note…

The S&P500 traded in a range of 2984 to 3233 last week before closing at 3041 which is a loss of about 5% on the week. The 10 year treasury traded in a range of .65% to .92% before closing the week at .70% The Fed balance sheet grew by only $4 bill…

Not a surprise to most of us here to see the DJIA off about 2,000 points this week–easy come, easy go. We are back to a realization that the economy pretty much sucks–of course it does. The question is always what it will do in a few quarters? Compan…

Annuity provider American Equity Investment Life (AEL) has priced their new fixed-rate reset perpetual preferred with a fairly tasty initial coupon of 6.625%. More importantly the issue, which will have the 1st coupon reset on 9/1/2025 has a ‘spread’ o…

Earlier today I had seen a press release from CenturyLink which carried within it an announcement of a ‘call’ on some baby bonds. Gary had also mentioned this in the ‘reader initiated alert’ section of the website. The press release is here and the par…

American Equity Investment Life Holding Company (AEL) has announced the issuance of a new fixed-rate reset non-cumulative preferred stock. A fixed-rate reset issue will be fixed for about 5 years and then be reset every 5 years to a new coupon determin…

Finally the OTC ticker is announced and is ABBCL. The previously announced new preferred from Associated Banc-Corp (ASB) has been priced. The issue is priced at 5.625%. Investors should compare the coupon and terms of this new issue against pricing and…

Midwest banker Associated Banc-Corp (ABS) is joing the party to issue new preferred stock. The company will be issuing ASB-F which will be a non-cumulative, qualified, split investment grade issue (BB from S&P and Baa3 from Moodys). The company has…

Storage REIT Public Storage (PSA) has priced their new preferred. The pricing is fixed at 4.625% for 20 million shares–with another 3 million for over allotments. This is now the lowest coupon the company has outstanding–they had sold a 4.70% issue i…