Sector: Other
Xoma Corporation 8.625% Series A Cumulative Perpetual Preferred Stock
Redemption on 12/15/2021 is at a premium of $1/shares–making redemption $26 plus accrued dividends.On and after 12/15/2022 redemption is at $25,75 plus accrued dividends. On and after 12/15/2023 redemption is at $25.50 plus accrued dividends. On and after 12/15/2024 redemption is at $25.25 plus accrued dividends. On and after 12/15/2025 redemption is at $25 plus accrued dividends.
Fortress Biotech 9.375% Series A Cumulative Perpetual Preferred Stock
Follow on offerings have been made numerous times since the original issuance at prices ranging from $18/share to $25/share. As of 9/30/2020 there were 3.427 million shares outstanding
Dividends were originally paid quarterly but in June, 2020 dividend payments were changed to monthly
Qurate Retail Group Inc. 8.0% Series A Cumulative Preferred Stock Due 3/15/2031 ($100/Share)
These shares, if outstanding, must be redeemed on 3/15/2031
If called on or after the 5th anniversary of issuance and before the 6th anniversary a 4% premium is paid on redemption. If paid on or after the 6th anniversary but before the 7th anniversary a 2% premium is paid on redemption. No premium is paid after the 7th anniversary date (2027).
Franchise Group Inc 7.50% Series A Cumulative Perpetual Preferred Stock
The company reopened this issue on 1/12/2021 selling 2.976 million shares with another 446,000 available for over allotment.
Company taken private 8/2023 and preferred shares redeemed
Wesco International 10.625% Fixed Rate Reset Cumulative Preferred Stock
Coupon is fixed until 6/22/2025 after which it is reset every 5 years at the 5 year treasury rate plus a spread of 10.325%. The issue is only redeemable on a reset date–i.e. every 5 years.
Chicken Soup for the Soul Entertainment 9.50% Notes Due 2025
Issue reopened and 375,500 new shares sold
Bunge LTD 4.875% Cumulative Convertible Perpetual Preference Shares
Redeemable only if the price of the commons shares trade at more than 130% of conversion price ($92.20) for 20 tradings days during a 30 day consecutive period
11/1/2020 conversion is now at $81.81
On 321/2022 all shares converted into common shares. The conversion was triggered by the strong share price of the common.
Triton International LTD, 6.875% Series D Cumulative Redee,able Perpetual Prference Shares
We have listed this issue as NON-qualified for preferential tax treatment. The prospectus is not clear on this matter and it is possible it will be qualified.
Triton International was bought by Brookfield Infrastructure on 9/28/2023. Preferreds remain outstanding.
Ford Motor Company 6.00% Notes due 2059