6/12/2025
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New York Mortgage Trust (NYMT) has announced they will be selling a new issue of baby bonds ($25 notes) with a maturity date in 2030.
The issue will trade on NASDAQ under ticker NYMTG when it begins to trade in a week or two (exact date can not be known).
NYMT has a number of currently outstanding issue (notes and preferreds) which can be seen here.
The preliminary prospectus can be reviewed here.
Thanks to mbg for posting this one. Jerrymac has chimed in with 9.125% yield talk.
F&G Annuities and Life (FG) has priced their previously announced baby bond with a coupon of 7.30%.
This is a large issue of $375 million (15 million shares (bonds).
The issue is rated a notch or 2 under investment grade by the major ratings agencies.
It will be a week or 10 days before this issue begins to trade on the NYSE.
Business development company Gladstone Investment (GAIN) has priced their new issue of baby bonds.
The issue prices at 7.875% for 4.4 million shares (bonds) with another 660,000 for overallotments.
Business development company Gladstone Investment (GAIN) has announced they are selling a new issue of baby bonds.
The issue will have a maturity date in 2030 and an early call available to the company in 2027.
The company has a number of low coupon baby bonds outstanding which can be seen here.
The preliminary prospectus can be found here.
Thanks to 2whiteroses for posting this yesterday afternoon.
CLO owner Eagle Point Credit Company has priced their new issues of baby bonds.
The baby bonds, which mature in 2030 are priced at 7.75%. This is a large 4 million share (bond) issue–actually made possible by the companys aggressive ‘at the money’ common share sales program.
