Home

Smaller mREIT Orchid Island Capital (ORC) announced a new issue preferred earlier this week and we are still awaiting pricing. I would expect we would see it priced tonight after the market close When the issue does trade on its permanent exchange it w…

mREIT Dynex Capital (DX) will be selling a new issue of fixed-to-floating rate preferred. The company says they have already issued a call announcement for older issue DX-A, a 8.50% issue which was trading at $26.29 yesterday. Guess someone is going to…

AT&T has priced the new previously announced perpetual preferred. As expected the coupon is pretty low at 4.75% for 70 million shares As you all know the company has a 5% perpetual outstanding which is trading around $25.97 after dropping yesterday…

While it is nothing like the last 2 days of March, June, September and December, where we have around 110-120 preferreds and baby bonds going ex-dividend the next 2 days will see significant action. On 2/13 and 2/14 we will see around 65-70 different i…

We are back into a period where each day you wake up and the equity futures are up 1/2%–and then over the course of the morning they move even further higher. Obviously the coronavirus is no longer a headline–BUT this thing could flair up again and o…

AT&T (T) has announced the coming issuance of a new series of fixed rate preferred stock. The company is also selling a fixed rate reset euro preferred. This will trade under the permanent ticker of T-C when it finally hits the big board for tradin…

Small mREIT Orchid Island Capital (ORC) has announced a new issue of preferred stock.. The company has no other preferreds or baby bonds outstanding at this time. While this was announced late yesterday it has not yet priced–EarlyBird is hearing price…

mREIT New Residential Investment Corp (NRZ) has priced the fixed-to-floating rate preferred previously announced. The shares will carry a fixed rate of 6.375% for about 5 years–until 2/14/2025, after which it will float at 3 month Libor plus a spread…

mREIT New Residential Investment (NRZ) will be offering a new issue of fixed-to-floating rate preferred stock. The issue will trade with a permanent ticker of NRZ-C. The company has 2 other fixed-to-floating rate issues outstanding which can be seen he…

B Riley Financial (RILY) which had initially announced a new offering of 2 million shares (bonds) has sold the issue and it has upsized the issue to 4.6 million plus an over allotment of 690,000. The company has announced at least a partial redemption…

Brookfield Property Parners (BPY) has priced their new preferred units with a meager coupon of 5.75%. This issue will generate a K-1 at tax time. BPY has 2 other issues outstanding which can be seen here. The pricing term sheet can be read here. SteveA…

OXLC has filed an investor presentation with the SEC. This presentation covers just the last year or so–which certainly looks better than looking back 5-7 years. The presentation can be read here.