Closed end fund Priority Income Fund (non traded) has sold a new issue of term preferred stock with a mandatory redemption in 2026.
The new G issue has a coupon of 6.25% and the company sold 1.28 million shares with another 192,000 available for over allotment.
The press release can be found here.
Priority Income Fund has 6 other issues of term preferred outstanding now and they can be seen here.
EarlyBird had mentioned this one yesterday in the reader alerts section and I had written about it coming a week or two ago.
The pricing term sheet is here.
Further detail will be posted on this issue.
PRIF PRG 6.25% Series G Preferred Stock Due 2026 will begin trading on NYSE today
Thanks EarlyBird
Hi Tim, I am no longer receiving google alerts on new articles and can’t see where I resubscribe? Thanks
Hi John–did you change browsers? I only know that some browsers don’t pick them up for some reason. Normally you should get a question asking if you want to subscribe. Might want to clear your ‘cache’ and then see if it asks you the question about subscribing.
Thanks, that did it 🙂
I didn’t know you had alerts thru google- is there a place to actually sign-up for it?