Bunge LTD 4.875% Cumulative Convertible Perpetual Preference Shares




AMG Capital Trust II 5.15% Convertible Trust Preferred Securities due 10/15/2037 ($50 issue)

These shares were sold by AMG Capital Trust and the debentures, maturing on 10/15/2037 are the sole asset of the trust. The dividends of these trust preferred shares are NOT qualified for preferential tax treatment. The shares are convertible at anytime, at the option of the owner, into .25 common shares of Affiliated Managers Group (AMG). On or after 10/16/2012, if the price of the common shares exceeds 130% of the conversion price ($200/share) for 20 of 30 consecutive days the company may, at their option, force conversion of the preferred shares. Given that the common shares are trading around $65 on 5/5/2020 it is highly unlikely that the company will ever be able to force conversion.

Distributions (other than contingent distributions) may be deferred for up to 20 consecutive quarterly periods, but not beyond the maturity date of the junior subordinated convertible debentures held by the trust. The junior subordinated convertible debentures will mature on October 15, 2037.




El Paso Energy Capital Trust I, 4 3/4% Trust Convertible Preferred Securities

Kinder Morgan is the parent corporation as they purchased El Paso Energy

Capital Trust I (Trust I), is a 100%-owned business trust that as of December 31, 2018, had 4.4 million of 4.75% trust convertible preferred securities outstanding (referred to as the Trust I Preferred Securities). Trust I exists for the sole purpose of issuing preferred securities and investing the proceeds in 4.75% convertible subordinated debentures, which are due 2028. Trust I’s sole source of income is interest earned on these debentures. This interest income is used to pay distributions on the preferred securities. We provide a full and unconditional guarantee of the Trust I Preferred Securities. There are no significant restrictions from these securities on our ability to obtain funds from our subsidiaries by distribution, dividend or loan. The Trust I Preferred Securities are non-voting (except in limited circumstances), pay quarterly distributions at an annual rate of 4.75%, carry a liquidation value of $50 per security plus accrued and unpaid distributions. The Trust I Preferred Securities outstanding as of December 31, 2018 are convertible at any time prior to the close of business on March 31, 2028, at the option of the holder, into the following mixed consideration: (i) 0.7197 of a share of our Class P common stock; and (ii) $25.18 in cash without interest. We have the right to redeem these Trust I Preferred Securities at any time.




Centerpoint Energy 7.00% Series B Mandatory Convertible Preferred Stock

Shares are will be converted on 9/1/2021. The initial conversion rate was 1.5291 shares of common stock if the common stock is trading at $32.70 or above. If the common stock is trading below $27.25 the conversion is 1.8349 shares of common. For market prices between $27.25 and $32.70 the conversion will be the converted at the rate of $50 divided by the market price. Because of the mandatory conversion we post the preferred and commons stock charts below.




Hecla Mining Co. 3.50 Series B Cumulative Convertible Preferred Stock

There is no available electronic Propspectus for this older issue




Lexington Realty Trust 6.50% Series C Cumulative Convertible Preferred Stock




Special Opportunities Fund 3.50% Convertible Preferred Stock

Issue will be Mandatorily redeemed on 8/19/2021





 

RLJ Lodging $1.95 Series A Cumulative Convertible Preferred Shares

SHARES ARE NOT REDEEMABLE–but are convertible if the common shares trade at $89.09 for 20 consecutive days. Shares are at $7.75 as of 3/30/2020.






Ready Capital Corp 7.00% Convertible Senior Notes

Was Previously Sutherland Asset Management.






Anworth Mortgage Asset Corp 6.25% Series B Cumulative Convertible Preferred Stock




Capitala Finance Corp. 5.75% Convertible Notes due 2022

Even though we show a 1st call date of anytime–there is NO early call.




Cincinnati Bell 6 3/4% Cumulative Convertible Preferred Stock