Priority Income Fund Launches Another New Term Preferred

Priority Income Fund (not exchange traded) has announced a new issue of term preferred stock.

The serial issuer of term preferreds has many issues currently outstanding and they can be seen here. They last sold a 6% issue in early May.

Yield talk is in the 6.00% to 6.375% area.

The company press release can be seen here.

EarlyBird was on top of this one.

6 thoughts on “Priority Income Fund Launches Another New Term Preferred”

      1. OD – There does seem to be confusion on C’s call that’s for sure… I had seen that 6/19 date sloshed around too and actually sold what I had on the basis of that, but according to yahoo they did go x-div on June 14 for the full amount of the 6/30 coupon which implies it’ll remain out until at least 6/30, so I’m not really sure which is right, but the timing of this new issue would allow them to close on the new deal and announce a 7/16 call on the same day… and market price today on C sure doesn’t reflect what one would get on a 6/19 call, so I think it remains outstanding…. At 25.20 it looks like it’s trading x-div but too high for 7/16 call too..

    1. on 5/19 they had committed to call C by July 16, so right down to the wire…. “The Company intends for the securities to be called or redeemed no earlier than 6/18 or later than 7/16 contingent upon the Company’s successful completion of a public offering of securities.”

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