Landmark Infrastructure Prices Floating to Fixed Preferred

Landmark Infrastructure has priced their floating to fixed preferred issue.

It starts off with a floating coupon of the greater of 7% or 3 month libor plus a spread of 4.698%.

In 2025 it will go to a fixed rate 9% (wow).

We don’t have time to look this over now, but will later.

The press release is here.


4 thoughts on “Landmark Infrastructure Prices Floating to Fixed Preferred”

  1. Flattest yield curve in 10 years, I just heard from Bloomberg. Yikes. That hasn’t been a good indicator.

    1. GW–I have a lot of thoughts on that and hope I can find time to write on it. Something is up in the market place–not sure what–maybe Deutschbank is going broke (they have the largest derivative book in the world)-just don’t know why this is happening.

  2. Tim:
    Thank you so much. Your help is so appreciated. Looks to me like the intention is to call these on May 15, 2025.

    1. Hi James–I agree–it would be quite a ‘penalty’ coupon at that time if not called. On the other hand we can’t figure out interest rates for next week let alone in 7 years.

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