Below are press releases that may be of interest to preferred stock and baby bond investors as these are from companies that have outstanding issues.
Fossil Group, Inc. Reports Second Quarter 2022 Financial Results
UMH PROPERTIES, INC. ANNOUNCES ACQUISITION OF A SOUTH CAROLINA COMMUNITY THROUGH ITS NEWLY-FORMED QUALIFIED OPPORTUNITY ZONE FUND
Conifer Holdings Reports 2022 Second Quarter Financial Results
Golar LNG Limited: 2022 AGM Results Notification
Kimco Realty® Announces Pricing of $650 Million Aggregate Principal Amount of 4.600% Notes due 2033
Ellington Residential Mortgage REIT Reports Second Quarter 2022 Results
One thought on “Headlines of Interest”
The KIM press release was interesting:
“The Company intends to use the net proceeds from the offering to redeem all of its outstanding 3.50% Notes due 2023 and all of its outstanding 3.125% Notes due 2023, and any additional proceeds will be used for general corporate purposes, including, but not limited to, funding for suitable investments and redevelopment opportunities.”
The two notes being redeemed totaled $620M and were issued in 2013, so KIM will be booking a big increase on its interest expense with this refinancing. Shows they aren’t waiting around to see where rates are in 2023, and also shows how ridiculously low rates were at one time.
Bond investors once gave them 3.125% 10-year debt on a shopping center REIT? Good grief.