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Headlines of Interest

Below are some press releases from company’s with preferred stock or baby bonds outstanding – or in some cases just of general interest.


Kite Realty Group Trust Reports First Quarter 2023 Operating Results

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Medallion Financial Corp. Reports 2023 First Quarter Results

Global Ship Lease Announces First Quarter 2023 Earnings Release, Conference Call and Webcast


Newtek Bank, N.A. Increases Client Deposits by 121% Since December 31, 2022


AMG Reports Financial and Operating Results for the First Quarter of 2023

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Ellington Residential Mortgage REIT Announces Release Date of First Quarter 2023 Earnings, Conference Call, and Investor Presentation

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XAI Octagon Floating Rate & Alternative Income Term Trust Declares its Monthly Common Shares Distribution of $0.085 per Share

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American Equity Declares 2nd Quarter 2023 Preferred Stock Dividend

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Air Lease Corporation Announces First Quarter 2023 Results

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Lincoln National Corporation’s Board of Directors Declares Series D Preferred Stock Dividend

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Prudential Financial, Inc. to Redeem 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043

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Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

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Sterling Bancorp Reports First Quarter 2023 Financial Results

4 thoughts on “Headlines of Interest”

  1. A note of caution on PRU redemption: PRU does have a baby bond symbol PRS Junior Subordinated 5.625% note…. This NOT the 5.625% that is being redeemed…. Redeemed = 5.625% due 2043… PRS = 5.625% due 8/15/58 and it’s not potentially callable until 8/15/23. Redeemed = CUSIP 744320AM4

    1. Based on the Pru’s decision to call the “other” note it seems possible (and maybe likely) that they will call PRS. At a current price of ~$24.60, rough YTC of 11% could be an interesting safe bet and by safe I mean little risk of default between now and call date of 8/15/23. Plenty of price risk.

      1. But the 5 5/8% they’re calling is F/F @ 3 month LIBOR + 3.92. Lots more incentive for them to call that one without even having PRS on their radar 2 months from now…

        1. Didn’t know the redeemed bond was F/F, That certainly makes a lot more sense to call. I should have done a little due diligence before posting. Thanks.

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