Coupon is fixed until 9/30/2025 at 7.75% after which the coupon will float at a rate of 3 month Libor plus a spread of 4.743%
Sector: Mortgage
Ready Capital Corporation 6.50% Senior Notes due 2021
Previously was Sutherland Asset Management
If baby bonds are called on or after 4/30/2019 but before 4/30/2020 they are called at 101% plus accrued interest. If called on or after 4/30/2020 they are called at $25 plus accrued interest.
PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Coupon is fixed at 8.125% until 3/15/2024 after which it floats at a rate of 3 month Libor plus a spread of 5.831%
Issue is now fixed rate
PennyMac Mortgage Investment Trust 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares
Coupon is fixed at 8% until 6/15/2024 after which time it will begin to float at 3 month Libor plus a spread of 5.99%
Issue is now fixed rate
Annaly Capital Management, 6.95% Series F Fixed-to-Floating Cumulative Redeemable Preferred Stock
Annaly Capital Management, Inc. is a real estate investment trust (REIT) that primarily invests in and manages a portfolio of mortgage-backed securities. The company operates as a middleman between borrowers and lenders by using the funds from short-term borrowings to purchase long-term, fixed-rate mortgages. Annaly Capital generates revenue through the difference between the interest income earned on its mortgage investments and the cost of its borrowings. The company’s goal is to generate high, stable income for its shareholders while also preserving capital. Annaly Capital is headquartered in New York and was founded in 1997.
Coupon is fixed at 6.95% until 9/30/2022 after which the rate resets quarterly at 3 month libor(now SOFR) plus 4.993%.