Anyone know what these EIX preferred are that are getting called? I looked at Quantum and didn’t see anything matching up to this description. Maybe they are a private placement?
Interesting report by Cobank well worth reading
I used to own the Series A. I bought a batch at IPO and doubled down about $820 and then sold off within the last year around $930. I see the offer is $915. I got out because it was just too far away from reset. They will be great payers at reset if not redeemed. I have lost track of them ever since FINRA redid their bond site as I really cant find anything anymore.
was actually only focusing in on the fact that what was being called was not the baby bond but a different 5.375% issue.. As far as motivation for it being called, yes the reset aspect is an important point.
Anyone know what these EIX preferred are that are getting called? I looked at Quantum and didn’t see anything matching up to this description. Maybe they are a private placement?
Interesting report by Cobank well worth reading
They are not…. They are 1k fixed rate issues as described….. I checked on one by cusip number just to be sure . Not the baby bond preferreds
I used to own the Series A. I bought a batch at IPO and doubled down about $820 and then sold off within the last year around $930. I see the offer is $915. I got out because it was just too far away from reset. They will be great payers at reset if not redeemed. I have lost track of them ever since FINRA redid their bond site as I really cant find anything anymore.
One has a price yesterday of 86, and the other is just below 90.
Not bad if you can sell them at 100, and buy them back at 88.
2wr, small but important correction: these are fixed-rate resets, not fixed. The 5.375% has a reset rate of 4.698% + 5YT.
was actually only focusing in on the fact that what was being called was not the baby bond but a different 5.375% issue.. As far as motivation for it being called, yes the reset aspect is an important point.