MetLife To Sell New Perpetual Preferred

Large insurance company MetLife (MET) will be selling a new perpetual preferred issue.

This issue will have an early redemption in 2025.

The company has 2 other perpetual preferreds outstanding which can be seen here.

The new issue will be investment grade so I think we are looking at another low coupon issue–we shall see.

Thanks to mcg and EarlyBird for being right on this one 15 minutes ago on the Reader Alerts page.

The preliminary prospectus can be seen here.

7 thoughts on “MetLife To Sell New Perpetual Preferred”

  1. Along this same line I got 4 emails from my Schwab folks this morning and one yesterday morning. All really really low coupons. As an example “Home Depot” came out with a 30 year bond and a yield of 3.2% according to the Schwab Rep that I called. What makes this even more interesting is the 4 that came out this morning. It was literally only a couple of hours and I got a second email on all 4 new issues and it said “The Book is Now CLOSED”. My point being obviously people are starving literally for anything to buy. I’ve been investing now for close to 48 years and this will end “VERY BADLY”. Eventually when Powell or whoever is in charge starts raising rates watch these low coupon dogs get killed. And the neophytes will say “WTF”. LOL

      1. I sure wish these people who like to quote Meir Anschel Rothschild or Churchill or LaRochefoucauld would include a PRECISE source.

        And is it really all that simple? Anybody remember the Bank War between Andrew Jackson and Nicholas Biddle, or the dilution of the coinage by who knows how many Medieval and Renaissance kings? The people who issue and control the currency indeed control the currency, until they don’t.


    1. This kind of situation makes me wonder why someone was recently selling PPWLO @125 just days before xd…


    2. Do you know what MET’s credit rating is? 4.75 is surprisingly low as I see no reason for them to get a better coupon than SO’s IPO yesterday. On the pecking order of who gets the best rates for a given credit rating, I thought it would be utilities, banks, and then insurance. WRB did BBB- baby bond at 5.1% not long ago.

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