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UPDATE–the ticker for this will be RILYM when it hits the market in a week (more or less). Financial firm B Riley Financial (RILY) has announced an offering of new baby bonds. The new offering will mature in 2025 and will have an early call period sta…

Giant Bermuda based partnership Brookfield Property Partners (BPY) has announced a new offering of cumulative, redeemable, perpetual preferred units (preferreds offered by partnerships are called units). BPY is a giant partnership with over $88 billion…

Here we go–a new week–what does it have in store for us? As noted by Fabrib we kick the week off with REIT Simon Properties Group (SPG) announcing a buy of Taubman Centers (TCO). TCO has 2 preferred issues outstanding which can be seen here. Both are…

RetiredBroker asked a great question earlier about the Uhaul Investors Club collateral and I wanted to get a note out to make sure we are clear on some important details. The important detail – whether it is a small detail or a larger detail just depen…

Well we are heading into the weekend with very strong gains in the $25/share preferred stock and baby bond arena. After a strong December and a flattish January, big jumps in most sectors (not all) of the income issues have propelled us to a week which…

The official government report on employment showed that 225,000 new jobs were added in January–against a forecast in the 165,000 area. ADP had claimed a gain of 291,000 new jobs in their report on Wednesday–but folks don’t pay too much attention to…

Just a couple updated items for Oxford Lane Capital (OXLC). The leverage ratio for the company is claimed to now be 300% by the company as of 9/30/2019. The number of shares outstanding of the OXLCO 7.50% issue was 3.6 million as of 9/30/2019. This iss…

UPDATE/Correction–dividend is monthly at .1302/month–1.5625/annually. Oxford Lane Capital (OXLC) has priced their previously announced term preferred stock issue. The issue will carry a fixed rate coupon of 6.25%, will be cumulative, but non qualifie…

We have discussed on here many times ‘sock drawer’ holdings–those that we really like for the dividend/interest they pay us, but also for the safety they bring along. These many times as what I call ‘base holdings’. I try not to sell them–and many ti…

It is amazing how fast these markets change–we go from ‘the world is going to end’ to ‘everything in the world is good’ in the blink of an eye. With common stocks up 1% this morning the 10 year treasury is moving higher–just like it is supposed to wo…

AGNC Investment (AGNC) has priced the previously announced fixed-to-floating rate preferred issue with an initial coupon of 6.125%. Starting in April, 2025 the coupon floats at 3 month Libor plus a spread of 4.697%. Shares will trade immediately on the…

CLO owner Oxford Lane Capital (OXLC) has announced a new offering of term preferred stock. Term preferreds are sold with a mandatory redemption date–in this case it will be in 2027. This issue will be cumulative, pay monthly dividends and will be non-…