4/3/2025
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Mortgage REIT New York Mortgage Trust (NYMT) has priced their new issuance of Senior Notes ($25/bond) at a coupon of 9.125%.
The issue matures in 2030–so with the short duration the share price should remain more stable than a very long dated maturity issue.
NYMT has many outstanding issues of baby bonds and preferred stock which can be seen here. The company sold a 9.125% baby bond in June which is trading at $25.08.
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.
Insurance/annuity company American National Group Inc has announced pricing of their new non cumulative preferred stock issue. The issue prices at 7.375%–about as expected for an issue that is a notch short of investment grade.
No grey market ticker has been announced as of this morning,
Insurance/Annuity company American National Group (owned by Brookfield Reinsurance) has announced they will be offering a $25/share preferred stock offering.
ANG is the parent of American Equity Life and many other insurance companies across the U.S.
The issue will trade under the permanent ticker ANG-D when it finally hits the NYSE.
The preliminary prospectus can be found here.
Thanks to J for his diligence is picking up on this one.
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.
