Another investment grade baby bond is being issued by Affiliated Managers (AMG).
The company joins the issuance parade of investment grade firms selling baby bonds to lock in some nice coupons. The company is rated BBB- by S&P and Baa1 by Moodys.
The new issue will have a maturity date of 2060 with an early call in 2025.
The company may defer interest payments for up to 20 consecutive quarters without a default.
The company has 1 other baby bond outstanding as well as 1 convertible trust preferred issue which is callable now. These issues can be seen here.
The preliminary prospectus for the new issue can be read here.
mcg was on this one.