6/12/2025
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Ford Motor Company (F) has priced the previously announced note issue with a maturity date in 2059.
The permanent ticker has not been announced, but we will have it when known. There is no OTC Grey Market trading, but one may be able to secure shares (bonds) prior to exchange trading by calling your broker with the CUSIP.
The company has 1 other baby bond issue outstanding which can be seen here. This issue carries a 6.20% coupon.
Customers Bancorp Inc (CUBI) has priced their previously announced subordinated notes.
The notes are priced at 5.375% for 2.6 million shares (bonds) with another 390,000 for overallotments.
The issue is rated BBB- by Kroll Bond Rating. They define this as medium quality.
No ticker has been announced so one will have to keep their eyes open for it if you have an interest. We will post it when known.
The early call feature is not available to the company until 2029–10 years instead of the more typical 5 years.
CUBI has numerous preferreds outstanding which can be seen here.
Gary Hargreaves posted a short article on the Sandbox page relative to CLO exposure by a few companies that I follow to some degree so I am just posting the link for others that may have missed Gary’s post. The article is 6 weeks old, but still may be of interest.
The article is short and not detailed for the most part, but it does highlight some history and touches on Oxford Square (OXLQ), Prospect Capital (PSEC) and Saratoga Investment (SAR).
The bottom line is be cautious with what you own–dig a little deeper to find out who owns equity ‘tranches’ of CLOs (the riskiest tranches)–don’t chase the juicy yield some of the common shares pay, without understanding some of the risks.
Vehicle manufacturer Ford Motor (F) will be selling a note offering with a maturity date out in 2059.
The company offered notes earlier in the years (May) so this will be their second offering this year. The previous note (which can be seen here) carries a 6.20% coupon.
The preliminary prospectus for the new issue can be seen here.
There will be no official OTC Grey market trading on the issue, but one may be able to purchase before exchange trading by contacting their broker once the CUSIP is announced.
earlybird was right on this one on the Reader Initiated Alerts page.
Customers Bancorp (CUBI) will be selling a small issue of $25 subordinated notes with a due date in 2034. Details are not known but I believe the issuance will be 1-1.5 million shares (bonds).
Of course CUBI has numerous issues of preferred stock outstanding and they have always seemed to be favorites with investors.
Their preferreds outstanding can be found here. All 4 issues outstandings are fixed-to-floating rate issues.
Note that within the preliminary prospectus for the new notes the company states they ‘may redeem shares of our preferred stock once they become redeemable’. The next issue available for redemption is the CUBI-C 7% issue which is redeemable in June, 2020.