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Headlines of Interest for Holders of Preferred Stock and Baby Bonds

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted.

Earnings season is over for now and not much news is being posted by company’s that are of interest so for the next 6-8 weeks postings will be relatively lite.

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May 21, 2025 16:05 ET | Source: Dynagas LNG Partners LP

Dynagas LNG Partners LP Announces Date for the Release of the First Quarter 2025 Results

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May 21, 2025 08:27 ET | Source: Gabelli Funds

Gabelli U.S. Treasury Money Market Fund Achieves Top Ranking by iMoneyNET™ (EPFR)

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May 21, 2025 06:30 ET | Source: Hyperscale Data, Inc.

Hyperscale Data Provides Business Update; Reports $25 Million in Q1 Revenue and Reaffirms $115–$125 Million Full-Year Revenue Guidance

Equitable Holdings Increases Common Stock Dividend and Declares Preferred Stock Dividends

Assurant Board of Directors Declares Quarterly Dividend of $0.80 per Common Share

The Hartford Declares Quarterly Dividends Of $0.52 Per Share Of Common Stock And $375 Per Share Of Series G Preferred Stock

AM Best Assigns Indicative Issue Credit Ratings to MetLife, Inc.’s New Shelf Registration

Ugly, Ugly Selloff

Wow what a selloff in equity markets!! The market opened lower, but right after the results of the 20 year treasury auction equities took a sharp tumble—about 4% from the peak to the bottom—ouch.

The 10 year treasury yield also shot higher–now up 10 basis points to be trading at 4.58%. Although I had written, many times last year, that I expected rates to head higher this year based on supply concerns I was truly hoping that I was wrong (which I normally am). This is getting serious. The one hope I had mentioned for moving rates lower was the perception that congress would tackle the debt issues–now it doesn’t appear that they will do anything, but spend, spend, spend.

Of course we are seeing red right now in income issues–no giant surprise as rates move up and up.

I am pondering my next investing moves–I wish I could see a way out of this mess, but if congress doesn’t find a way to cut spending the outlook is pretty bad.

KKR Prices Baby Bonds

Asset manager KKR & Co has priced their previously announced baby bonds.

The issue prices at 6.875% and have a maturity date of 6/1/2065.

This is an investment grade issue from S&P and Fitch, although the company has the right to defer interest payments for 5 consecutive years without a default being declared.

The pricing term sheet is here.

Holders of Carlyle Credit Income Fund Term Preferred – A Potential Call Coming Up

Closed end fund Carlyle Credit Income Fund (CCIF), an owner of CLOs (primarily the equity tranche has a 8.75% term preferred (CCIA) outstanding which has a maturity of 10/31/2028–BUT an optional 1st call date starting 10/31/2025.

This is a monthly payer at 18 cents month on the last day of the month and at this moment is trading at $25.53.

On 1/31/2025 CCIF was able to sell an issue of 7.50% convertible preferred in a private transaction.

We don’t know what interest rates will do between now and October, but if they fall there is a real chance that the CCIA issue will be redeemed on 10/31/2025—or at a minimum fall back to near $25 simply on the potential for a call. In my opinion if shares rise into the high $25’s one should consider selling.

This is an issue that I bought a number of times in 2024, but exited (at $26.67) on the giant silly spike back January. I will potentially re-enter if shares fall down to the $25.20 area (I have a few token shares in the account yet).

Headlines of Interest for Holders of Preferred Stock and/or Baby Bonds

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted.

Earnings season is over for now and not much news is being posted by company’s that are of interest so for the next 6-8 weeks postings will be relatively lite.


May 20, 2025 16:10 ET | Source: Carlyle Credit Income Fund

Carlyle Credit Income Fund Announces Second Quarter Financial Results and Declares Monthly Common and Preferred Dividends

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May 20, 2025 09:15 ET | Source: Hovnanian Enterprises, Inc.

Hovnanian Enterprises Reports Fiscal 2025 Second Quarter Results

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May 20, 2025 16:31 ET | Source: Golar LNG

Golar LNG Limited: 2025 AGM Results Notification

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May 20, 2025 16:30 ET | Source: Hyperscale Data, Inc.

Hyperscale Data Declares Monthly Cash Dividend of $0.2708333 Per Share of 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock

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May 20, 2025 16:26 ET | Source: Valley National Bank

Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends

Osaic Unveils Vision for the Future of Wealth Management at NXT 2025

KKR Announces Offering of Subordinated Notes

Ellington Credit Company Reports Results for Three-Month Period Ended March 31, 2025

Brighthouse Financial Recommends Shareholders Reject “Mini-Tender” Offer by Potemkin Limited