Insurance/annuity company American National Group Inc has announced pricing of their new non cumulative preferred stock issue. The issue prices at 7.375%–about as expected for an issue that is a notch short of investment grade.
No grey market ticker has been announced as of this morning,
The pricing term sheet for this issue can be found here.
S&P rating = BB+.
QOL has stale ratings for ANG-A and -B. Still shows “BB”.
https://disclosure.spglobal.com/ratings/en/regulatory/instrument-details/debtType/PREFDSTK/entityId/357849
I get the feeling that QOL is not quite as responsive to client input as they used to be….I know I’ve made a habit of trying to notify them when I see their data is not up to date, but I’m seeing now where they are not as diligent as they used to be in updating new info… I know for sure they are not as diligent at acknowledging input.
Agreed. I’ve contacted them 3 times wrt METCZ with no result….by email and chat. Began trading 12/3.
Issue’s announced size = amount outstanding for ANG-B, not enough for ANG-A…
https://www.otcmarkets.com/stock/AMNGV/overview