We start off the week right away with another new preferred issue being announced.
Insurer Brighthouse Financial (BHF) has announced they are selling a new non-cumulative preferred. The issue will be rated BBB- (low investment grade) by Standard and Poors and Ba2 (below investment grade) by Moodys.
The issue will have the typical optional redemption (optional to the company) period starting in 6/25/2025.
The permanent ticker will be BHFAO when it finally hits the NASDAQ exchange.
The company has 1 preferred and 1 baby bond outstanding now and they can be seen here.
The preliminary prospectus for the new issue can be read here.
mcg was right on top of this new issue under the Ready Initiated Alerts.