Innovative Income Investor | Innovative Income Investor - Part 278

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Headlines of Interest

Below are some press releases from company’s with preferred stock or baby bonds outstanding–or just news of general interest.

Pyxis Tankers Announces Filing of Form 20-F for the Year Ended December 31, 2022

SiriusPoint Acknowledges Indication of Interest from Third Point

Ready Capital Crosses $10 Billion in Bridge Originations Since Launching its Bridge Platform in 2015

Green Brick Partners, Inc. Announces Dates For 8-K Filing and Earnings Call

Diana Shipping Inc. Announces Time Charter Contract for m/v Electra With Cobelfret S.A.

TEN Ltd. Announces the Filing of Form 20-F With the SEC

Sotherly Hotels Inc. Schedules First Quarter 2023 Earnings Release and Conference Call

Triton International to be Acquired by Brookfield Infrastructure in a $13.3 Billion Take-Private Transaction

iMedia Reports Fourth Quarter 2022 and Full-Year 2022 Results

NiSource to release financial results and host conference call on May 3

Triton International Being Acquired

Giant container owner Triton International (TRTN) is being acquired by Brookfield Infrastructure (BIP).

Triton has a number of high yield perpetual preferreds outstanding which can be seen here.

It is stated that ‘preference shares will remain outstanding’.

Announcements etc can be read here.

Saratoga Investment Prices Baby Bonds

BDC Saratoga Investment (SAR) has priced their new baby bond with a fixed rate coupon of 8.50%.

The ticker will be SAZ and there is no OTC trading–the new issue will likely start trading in the next week or so.

The company has 3 other baby bond issues outstanding which can be seen here.

The issue is rated BBB+ by Egan-Jones which Saratoga describes as ‘investment grade’. Credit definitions from the ratings agencies can be found here.

The pricing term sheet is here.

BDC Saratoga Investment Announces New Baby Bond

Business development company Saratoga Investment (SAR) has announced the issuance of new baby bonds.

The preliminary prospectus is here.

SAR has 3 baby bonds current outstanding and they can be seen here.

The new issue is not yet priced. Egan Jones rates the new issue BBB+.

Headlines of Interest

Below are some press releases from company’s with preferred stock or baby bonds outstanding–or just news of general interest.

Diana Shipping Inc. Announces Delivery of the Ultramax Dry Bulk Vessel m/v DSI Drammen and Her Entry Into Time Charter Contract With IMC Shipping

Apollo Commercial Real Estate Finance, Inc. Announces Dates for First Quarter 2023 Earnings Release and Conference Call

Teekay Group Publishes 2022 Sustainability Report and Announces Availability of Annual Reports on Form 20-F for the Year Ended December 31, 2022

Scorpio Tankers Inc. Announces the Exercise of Purchase Options on Six Ships and Repurchases of Its Common Shares

View Press Release

NuStar Energy L.P. to Announce First Quarter 2023 Earnings Results on May 4, 2023

Synovus Financial Corp. Releases 2022 Annual Report

View Press Release

TravelCenters of America Announces Expiration of Hart-Scott-Rodino Act Waiting Period

View Press Release

Dynex Capital, Inc. Declares Monthly Common Stock Dividend Of $0.13

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