Newer closed end fund Pearl Diver Credit has priced their new issuance of term preferred stock with a coupon of 8%.
The issue will have a mandatory redemption on 12/31/2029. This is a monthly payer.
Pearl Diver Credit Prices Term Preferred
Category: New Issue
Gladstone Investment Prices Baby Bonds
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.
BDC Gladstone Investment to Sell New Baby Bonds
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.
RiverNorth/Doubleline $10 Term Preferred Ready to Trade
Folks are noting that the new RiverNorth/Doubleline Strategic Opportunity Fund $10/Share 6% Term Preferred (OPP-C) is ready to trade.
It looks to me that a few early shares sold at $14–that is crazy and will likely correct itself quickly. For a test I tried to put in an order on Fido for 100 shares–got the Mother Fido message ‘maximum shares allowed has been exceeded’ (or something like that). Changed to 25 shares at $9.75 and it took-we’ll see what happens–not one I really want to own that badly.
This one is ‘thin’ with just 419,000 shares outstanding–God forbid someone puts in a ‘market’ order.
Eagle Point Credit Co. Prices New Baby Bonds
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.
