Thanks to all those folks who highlighted this new issue on the Reader Initiated Alerts page.
Financial services company JMP Group (NYSE:JMP) has priced a new baby bond ($25 Senior Notes). The company had originally filed their registration statement 1 month ago. The issue has a maturity date of 9/30/2029–the early optionally redemption period starts 9/30/2021.
The coupon will be a fixed rate of 6.875%. The bonds are rated BBB by Egan Jones.
They have sold 1.44 million shares (bonds) and the company intends to call the 8.00% JMPB Senior Notes with a portion of the proceeds. The company has other outstanding baby bonds and they can be seen here.
There is no OTC market trading in this issue and the permanent ticker has not been released (although we would guess JMPE).