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Insurance company American Financial Group (AFG) has announced a new issuance of baby bonds. The company has a number of issues already outstanding–3 baby bond issues to be exact. The company intends to redeem the 6.25% baby bonds due in 2054 (AFGE),…

Multi strategy REIT Ready Capital (RC) will reopen (sell more shares in a currently outstanding issue) their 6.20% baby bonds (RCB). This issue was originally sold in July, 2019 and was most recently trading in the $25.59 area. Disclousre–I own this i…

FINALLY the OTC Grey market ticker has been posted. It is GBLNP–of course now you have to wait on your broker to update their systems. Diversified triple net lease REIT Global Net Lease (GNL) has priced their new preferred. The issue comes with a coup…

Insurance company/asset manager AXA Equitable (EQH) has posted the pricing on the new preferred stock previously announced. The issue has priced with a fixed rate coupon of 5.25%–slightly better than what I thought it might price. The issue is non cum…

Insurance/asset manager AXA Equitable Holdings (EQH) has announced a new issue of non-cumulative, fixed rate, perpetual preferred stock. No doubt this will be another low coupon issue–readers are guessing 4.75% to 5%. The issue will be lower investmen…

Online and television retailer QVC (owned by Qurate Retail:QRTEA) has priced the previously announced baby bond. The issue will carry a coupon of 6.25% on 17.4 million shares (plus 2.6 million over allotment shares). The issue is low investment grade p…

Triple net lease REIT Global Net Lease (GNL) has announced the sale of a new cumulative, fixed rate, perpetual preferred stock. Of course being a REIT preferred the dividends will be non qualified. The issue will have an early redemption period in 2024…

VEREIT has priced a new issue of Senior Notes–NOT baby bonds. $600 million in investment grade notes were priced at 3.10%. The notes are expected to be rated Baa3 by Moodys, BBB- by S&P and BBB by Fitch. I only mention this because the VEREIT 6.70…

I have kept model portfolios (meaning they are not real, but educational ) for years–the ones on this site are just a few years old, but provide some insight, in particular to a newer investor. The Enhanced High Yield Income Portfolio has worked fairl…

Retailer QVC (owned by Qurate Retail:QRTEA) has announced a new offering of $25/share baby bonds. The Senior Secured Notes will have a maturity date way out in 2068. The notes will trade under the ticker QVCC when they begin to trade. The company has a…

Ptrader has posted that Deutsche Bank is calling a 8.05% trust preferred (DKT) which should not be a real surprise. The SEC filing is here. The issue is trading at $25.70 right now–it has been callable since 6/30/2018. Looks like a busy week for more…

UPDATE–This will be just a partial redemption of the issue–amount yet to be determined. REIT VEREIT (VER) has announced a new senior note offering with the intent to call the 6.70% perpetual VER-F, monthly paying preferred. This has been a favorite o…