Asset manager Affiliated Managers Group (AMG) has announced their intention to sell a new issue of $25 Junior Subordinated Note issue due 2061.
This issue will be a typical issue from AMG – they have 2 issues outstanding – as well as a $50/share trust preferred issue outstanding–these can be seen here.
These notes do allow the company to defer interest for up to 20 consecutive quarters (5 years) on one or more occasions
J was on top of this one. EarlyBird posits yield talk in the 4.25-4.375% area.