Untraded CEF Priority Income Fund has registered another term preferred share offering . The Priority Income Fund is a holder of collateralized debt obligations (CLOs).
The new issue will be PRIF-F when it finally is priced and issued. Because of the known history of issuance of new term preferreds from the Priority Income Fund it could be a week or two before they price the issue.
Being a CEF the company must maintain at least a 200% asset coverage ratio and as of 6/30/2019 the company has a adjusted coverage ratio of approximately 350% (giving affect to the series E issued just 3 weeks ago).
The company currently has 5 term preferreds issues outstanding and they can be seen here.
Eugene was right on this one under the Reader Initiated Alerts earlier today.