The new baby bond from Oxford Square Capital Corp (NASDAQ:OXSQ) has begun trading on the NASDAQ under the ticker of OXSQZ.
This $25 baby bond carries a coupon of 6.25% and has a final maturity of 4/30/2026. An early redemption period for the issue begins 4/30/2022.
The issue is unrated by the major ratings agency, but is rated by Egan-Jones at A-.
Oxford Square is a holder of collateralized debt obligations (CLOs) and is organized as a BDC (business development company).
OXSQZ weak today. Coupon not attractive enough? Lack of love for CLOs?
Tim,
I appreciate your web site very much. I have a question about parking cash. Do you have a suggestion as to where to keep cash-like funds? I am looking at Barclay’s short-term bond fund (SHV). I know there are also money-market funds, but I think I need the fund to be tradeable on an exchange, so that I can access it in time to settle longer-term trades (baby bonds, preferreds, etc.). But perhaps I am wrong about that. Any advice would be appreciated.
Jay
Jay,
One of the most popular parking spots amongst us here on this site is KYN-F. Super liquid…
@Jay
The money market fund in your brokerage account can be accessed immediately, that is, withdrawn and available in your personal checking or savings account in one business day ( overnight ). It is the same as cash but earning a small amount of interest. I suggest you contact your broker and ask 1= where your cash is parked 2= how to withdraw it. , if you do not know. Any investment will first have to be sold and then withdrawn, so that will take an extra day or two.
There was a SA article today on OXSQ:
https://seekingalpha.com/article/4252958-oxford-square-trying-leverage-problems
Thanks for the info libero–quite informative