Below are some press releases from company’s that have preferred stock or baby bonds outstanding.
Entergy Texas declares quarterly dividend on preferred stock
HUNTINGTON BANCSHARES INCORPORATED DECLARES CASH DIVIDEND ON ITS SERIES I PREFERRED STOCK
AIG Announces Closing of Corebridge Financial, Inc. Initial Public Offering
SL Green Realty Corp. Announces Common and Preferred Stock Dividends
Tellurian Announces Withdrawal of Public Offering of Senior Secured Notes
Ellington Financial Announces Estimated Book Value Per Common Share as of August 31, 2022
RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced it will report financial results for the third quarter ended September 30, 2022, after the markets close on November 2, 2022.
So PSEC is offering to pay 98 for its investment grade 5.875% note due in 6 months on 3/15/23. The market bid according to Fidelity is par (100) and last trades have been plus or minus par. How generous of them…….. I don’t get it… Another reason in my mind confirming why I’ve had an anti-PSEC bias. What are they up to with this tender???????
Perhaps there are large holders who could not get out of them easily without moving the market significantly. So they can unload them all at 980 and maybe buy something better which over a certain short time period would come out ahead or allow them to buy something better while the getting is good compared to the near future? Both parties get a small win. Perhaps that is possible?!?
Either way.. it does not hurt to try.
Saving themselves a bunch of money for anybody that falls for it….
Tenders are voluntary.
though I am somewhat surprised that the bonds are still trading near par with inflation potentially being a problem.
Owning TELZ is like having a ticket to a 3 ring circus. One never knows where this will go. I hope I don’t regret the purchase for the high risk bucket. I keep following their news pretty closely but I still cannot decide where I want to go with the preferred shares at this stage.
Correction. I meant notes. Not preferred shares. But most here probably knew that already…
I guess this didn’t age well