mREIT Arlington Asset Investment (NYSE:AI) will sell a new issue of fixed to floating preferred.
AI had previously been organized as a C-Corporation, but elected recently to convert to REIT status for 2019.
While we are not too familiar with AI it would appear that the company has had plenty of issues in the last few years and net asset value has been falling. We would expect a fairly high coupon on this issue and potential investors would do well to dig deeply into the companies financials.
Preliminary details can be seen here.
Thanks very much for your thoughts on all of these pfd issues!