Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. Earnings season has essentially ended so news will be slower until we get into mid April when companys with 3/31 quarter closes begin to report.
Safe Bulkers Announces Filing of 2024 Annual Report on Form 20-F
Armada Hoffler Completes Impactful Lease With F1® Arcade at The Interlock
Great Elm Capital Corp. Announces Fourth Quarter and Full Year 2024 Financial Results
Priority Income Fund Announces Redemption of its 6.000% Series H Term Preferred Stock Due 2026
Enstar Group Limited Announces Any And All Cash Tender Offer For Junior Subordinated Notes Due 2040
Hercules Capital Closes Offering of $287.5 Million of Convertible Unsecured Notes
Triton International Announces Agreement to Acquire Global Container International
LifeMD Reports Fourth Quarter 2024 Resultsarter 2024 Results
Enstar cash tender offer
I own the issue at $99.67. It’s callable on 9/1/25 (6 months). Then, it is reset at 5 year T plus 5.468%. Any viewpoints/opinions regarding tendering shares or just waiting to see what happens in September? I would love to have Enstar not call the issue, but I guess that is not likely.
What’s the premium over par? I have some PacifiCorp and AB tender offers recently. The offers can hint at how much they have in resources and how much they really want to take the issue back.
YH—Enstar offering to buy back all of the issue at par. They are currently in the process of issuing a new security to fund this one. I’m guessing Enstar figures interest rates might be higher in September so they are taking action now. Just a guess.
Why not wait it out? Unless you have another security you want to deploy the capital into right now.