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.
Seems they will be redeeming the Series C preferreds with the proceeds.
Total call on 6/19, if memory serves me well.
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..
Hi 2WR, got a Fido alert announcing full call on 6/18, they usually get it right.
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.”
Woohoo!!!