Below is the detail table for the new term preferred from CLO closed end fund (CEF) from late last week.
The pricing term sheet is here.
OCCI has 2 other term preferreds currently outstanding
As of 7/31/2024 OCCI had an asset coverage ratio of 289%.
OFS Credit Company New Term Preferred Stock Details
Fidelity recognizes OFSCV as a ticker and even has a 2 day chart for it showing it trades flat at about 24.66. But it won’t let me bid….
(000925) We are unable to process your order at the current time because there is no last trade price available for the security. Please try again later or call a Fidelity representative at 1-800-544-6666.
https://www.otcmarkets.com/stock/OFSCV/overview
It is still grey and the brokers are not allowing us to easily buy it for our “protection”. You will need to wait until it hits the pink. I have no idea the rhyme or reason why some you can buy very early, sometimes, and others you just have to wait for it to move off the grey/expert areas. Every broker implemented things slightly different almost on a case by case basis. Like if really well known offering… I feel you can buy earlier. Not this one though.
OXLC has outperformed OFS and its mkt cap is 10 times larger. Also its debt/equity looks healthier. Which one would you choose?
Gabe OCCI IPO’d in 2018 at $20.00 a share now at $7 and change. OXLC IPO’d in 2011 at $20.00 a share and now worth $5.00 and change Long drop down for common share holders.
Thanks Tim for working over the weekend to post this for all.
You’re welcome Wayne. Since I was not at ‘work’ last week it is the least I can do.