Closed end fund Priority Income Fund (non listed) is going to redeem another of their outstanding preferred stock issue.
They have filed to call the PRIF-C 6.625% issue between 6/18/21 and 7/16/2021–the exact date not specified. No damage will be incurred by holders as the issue is trading at $25.33 now. The SEC document is here.
The company has plenty of outstanding term preferreds for investors to move to if desired.
The above redemption is based on the ability to sell a new issue “I” term preferred which was registered a few days ago.
Original D noted this info this morning. J chimed in on the new issue.
M-E sent me a corporate action this morning with the details.
REDEMPTION DATE JUNE 18, 2021
AMOUNT PAID FOR EACH SECURITY REDEEMED $ 25.000000
DIVIDENDS $ 0.358852
TOTAL AMOUNT $ 25.358852