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Capital One Financial to Sell New Preferred

Not to be left out of the gravy train of low coupon preferreds Capital One Financial (COF) has announced a new issue of preferred stock.

The company has numerous preferred issues already outstanding which can be seen here. Only 1 of the issues is near a potential redemption–the 6.20% COF-F issue which can be redeemed on 12/1/2020 (only redeemable on a dividend payment date).

The preliminary prospectus can be read here.

mcg and EarlyBird were on this one. ‘Yield Talk’ is in the 5% area (likely a little less).

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