Category: Preferred Stock

mREIT Rithm Property Trust has announced they will be selling a new fixed-to-floating rate preferred.

This issue will have an early redemption available to the company in 2030.

The preliminary prospectus can be read here.

J was on top of this one just a bit ago in reader alerts.

Container leasing company Triton International has announced they have priced their new issue of preferred shares with a coupon of 7.625%.

Shares are perpetual, cumulative and qualified for tax treatment.

Shares have an early redemption option available to the company starting 3/15/2030.

As I noted before Triton International is owned by Brookfield Infrastructure (BIPI) and no longer has common shares outstanding, but does file 10-Q’s and 10-K’s

The company has 5 other issues outstanding which can be seen here. Potential investors should review all the other options before determining if the new issue is the ‘best’ for you.

The pricing term sheet can be read here.

Container leasing company Triton International (TRTN) has announced they will be selling a new issue of perpetual preferred stock.

Triton has a number of preferred issues outstanding already, which can be seen here.

It should be noted that TRTN is owned by Brookfield Infrastructure Corporation (BIPC). While BIPC has deep pockets all companys they own are expected to carry their own weight and TRTN continues to file SEC reports as if they were a standalone company.

The preliminary prospectus can be read here.

Thanks to J for being on this one and for Jerrymac for chiming in with yield talk in the 7.75% area.

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,

The pricing term sheet for this issue can be found here.

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.