Closed end fund Rivernorth Opportunities Fund (RIV) has announced a new issue of preferred stock. The issue will be perpetual and cumulative.
These new shares are rated A1 by Moody’s so of course we are looking at a relatively modest coupon.
The company has $336 million in assets and (correction) with $31 million in leverage as of 1/31/2022. (see 2whiteroses note below with info from Moody’s).