Cowen to Sell Baby Bonds (corrected)

Cowen will be selling a new issue of baby bonds with a maturity date in 2033.  This is a bit far out for us personally in terms of maturity dates.

The issue will pay quarterly interest and of course the payment will be a non qualified payment.

Cowen currently has a 7.35% baby bond outstanding (NASDAQ:COWNZ) which is trading right at $25 (it just went ex-dividend).  This older issue matures in 2027.

The preliminary prospectus can be found here.