Priority Income Fund Releases Slide Show

Non publicly traded closed end fund (CEF) which has 2 term preferreds currently outstanding, and is now trying to sell a new term preferred, has released a new “slide show”.

Priority Income has been difficult to do due diligence on in the past, but now they are trying to get more information out to investors. In our opinion information like this is long overdue–at least if they want folks excited to maybe buy their securities.

The slide show can be view here.

4 thoughts on “Priority Income Fund Releases Slide Show”

  1. My 2 cents is skip Priority and look at ECC or OXLC, assuming you like CLOs. Also, the “AAA” bit is totally misleading. AAA refers to the tranche of the CLO, not the rating on the underlying credits. Like all CLOs they will be B/B+ credits.

    1. Much appreciate your experience and direction Bob. This area is new to me so I’ll be dragging the text books back out.

  2. Tim, The slide show was a compelling read. Underlying is selective senior-secured loans (65% AAA), extremely well-diversified, financing is locked and not subject to margin call (huge). All appears quite positive, muted a bit by the stepchild-like discussion of the pfds (7.0) though as you indicated the 200% asset coverage requirement is in place. Am I missing something? These look good on the cover.

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