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.
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.
Further detail will be posted on this issue.