Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest.
Now that earnings season is done I expect news to be very slow. Definitely a slow day again today.
Plymouth Industrial REIT Completes Redemption of Series A Preferred Stock
Gabelli Utility Trust to Commence Exchange Offer For Series B Auction Market Preferred Shares
Diana Shipping Inc. Announces Direct Continuation Of Time Charter Contract For M/V Crystalia
Chatham Lodging Trust Declares Quarterly Common, Preferred Dividend
09
Although the Gabelli Utility Trust {GUT} exchange offer is for Auction Market preferreds, that reminds me that Gabelli Global Utility & Income Trust [GLU] has an upcoming PUT date on 12/26 for holders of their GLU-B preferred. I wonder if Gabelli is going to attempt to induce shareholders into doing something similar by offering a new preferred for exchange… There is a STRONG incentive for all shareholders to put GLU-B back as it is right now because if you do not, then GLU-B turns into a 4% perpetual preferred. GLU-B is trading at a slight premium right now (50.28) if you don’t count the accrued.