The new fixed-to-floating rate 8% preferred from mREIT Chimera Investment (NYSE:CIM-D) is now trading on the NYSE and is trading around the $24.80 mark. It looks like it may take a few weeks before this issue gets much traction. Chimera has 2 other f-t-f issues outstanding–1 is at a 7.75% coupon and the other at 8%. They also have a 8% fixed rate issue outstanding. With the trading of the already outstanding issues it would appear that the new issue has 20 or 30 cents to upside from here. The issue is trading under CIM-D.
The new $100 7.50% mandatory convertible from battery maker Energizer Holdings is now trading on the NYSE under the ticker ENR-A. The shares which traded strongly a few days ago have weakened and now are trading under $100/share at $99.30.