mREIT Ready Capital Corporation (NYSE:RC) has priced a new baby bond issue with a fixed rate coupon of 6.20%.
While the coupon could be a bit more generous, at least the 2026 maturity date makes it a bit attractive.
The details of the issue are below–
This issue should trade sometime in the next week or two, although the timing will not be known in advance.
There is no OTC Grey market trading, but the bond desk of your brokerage firm may be able to secure for you prior to NYSE trading.
It isn’t trading yet, and the CUSIP is wrong. Ready corrected it to 75574U408.
Justin—where did you get a corrected cusip? I want to correct the record, but I don’t see a different one published. thanks
CUSIP bureau.
They deleted the alpha one today.
Thanks Justin
Just reviewed the RC web site. Here’s a statement that should get everyone’s attention.
“The Company’s aggregate 2018 cash distributions exceeded its earnings and profits for the 2018 taxable year. Therefore, the January 31, 2019 cash distribution with a record date of December 31, 2018 will be treated as a 2019 distribution for U.S. federal income tax purposes.”
That is typical for REIT’s in their early years because of the heavy depreciation of their properties.
Not showing up on Fidelity
RCB not yet listed in FIDO when checked at 9: 32 AM CDT on 7/19
TD has nothing found by CUSIP this AM.