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Container ship owner Global Ship Lease (GSL) has priced their previously announced $25 baby bonds. The issue will carry a coupon of 8.00% and the issue will mature in 2024. An interesting side note to this issue is that B Riley recently (10/01/2019) to…

Update–link to FDIC site. Go to this page and search bancorpsouth (all one word). Tupelo, Mississippi based banker BancorpSouth (BXS) has announced the issuance of a new preferred stock issue. This issue is non-cumulative, qualified and has a 5.5% cou…

We are still awaiting pricing on a number of previously announced new issues. Insurance/annuity company American Equity Investment Life Holding Co (AEL) announced a new issue on Tuesday the 12th. This will be a fixed-rate reset preferred–non cumulativ…

Nomadicmist reminded us today, on the Sandbox Page, that while the stock market continues to ‘party on’ there is plenty to worry about in the world. Nomad points to the recent downgrade of the Global Sovereign Outlook to NEGATIVE by Moodys for 2020. Es…

Compass Diversified Holdings (CODI) has priced the previously announced preferred. The issue was priced at 7.875%, with 4 million shares being sold, with another 600,000 being available for over allotments. This issue will issue a K-1 at tax time. I ha…

Diversified manufacturing company Compass Diversified Holdings (CODI) has announced a new fixed rate preferred unit issue that will have a ticker of CODI-C when it begins to trade on the NYSE. CODI is a limited partnership and thus any distributions ar…

Container ship lessor Global Ship Lease (GSL) will be selling a new Senior Unsecured Note with a maturity date in 2024. These $25 notes will have bonuses for early redemption. They will be redeemable on and after 12/31/2021 up until 12/30/2022 for 102%…

American Equity Investment Life Holding Company (AEL) has announced a new $25 preferred issue. This is another Fixed-Rate Reset issue, which means it will have an initial fixed rate until 12/1/2024 at which time the company can optionally redeem the is…

While we don’t cover $1,000/shares issues it is noted that Goldman Sachs (GS) will sell a new preferred. This is a Fixed-Rate Reset preferred. This is interesting as we have seen a number of Fixed-Rate Reset preferreds this year. The way the fixed-rate…