5/29/2025
Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!
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.
KKR & Co has announced they will be selling a new issue of $25 baby bonds.
The issue will have a maturity date way out in 2065 with early redemption available in 2030.
The company will have the right to defer interest payments for up to 5 years consecutive years without a default being declared.
The preliminary prospectus can be read here.
Thanks to Vito for catching this one. Also Jerrymac chimed in with yield talk in the 7-7.125% area.
Medallion Bank has priced a new issue of fixed rate reset preferred with an initial coupon of 9%. It will reset at the 5 year treasury plus a fixed spread of 4.94% on 7/1/2030–then reset every 5 years thereafter.
Medallion Bank is a division of Medallion Financial (MFIN).
Medallion Bank has a 8% fixed to floating issue outstanding (MBNKP) which is now floating at around 11% and they may call this issue with proceeds of the new offering.
Medallion Bank is regulated by the FDIC and all filings are on the FDIC website–NOT the SEC Edgar system.
If you go here and search for Medallion Bank you can access all of their filings.
Mortgage REIT Angel Oak (AOMR) has announced pricing on their new issue of $25 notes and it is a super high yield of 9.75%.
There is no OTC trading of baby bonds prior to exchange listing
Smallish mREIT Angel Oak Mortgage REIT (AOMR) has announced they will be selling a new senior note offering with a maturity date in 2030.
The company had issued a 9.50% issue last July which has traded around $25 since issuance.
Nothing special about this new offering although there is a clause to make an offer to repurchase at 101% in the event of a change of control.
To see the preliminary prospectus go here.
Thank you very much to J for being on this one.