Sotherly Hotels Prices Baby Bonds

4:30 PM CST

Sotherly Hotels (NASDAQ:SOHO) has priced their new baby bond issue with a coupon of 7.25%.

Additionally in this case if the company decides to redeem the debt after 2/15/2019 and prior to maturity they will pay a premium of 101%, plus accrued interest

While we are not fond of lodging REITs this issue has some possibilities as it has a maturity date in 2021.  The combination of a 7.25% coupon with the very short maturity date means we need to strongly consider a purchase of this security.

The pricing term sheet for this issue can be found here.

The issue will trade under the ticker SOHOK.  This issue will not trade OTC grey market prior to issuance.  The issue should trade in the next couple of days–watch your broker for the loading of the ticker into their quote system.

We will post when we see the issue start to trade.

2 thoughts on “Sotherly Hotels Prices Baby Bonds”

  1. Tim: I lost you when your other website got traded off. I have been in preferred stocks for some time and missed your wisdom. I found you in a comment you made on Brad’s recent rebuttal to “O”. Thanks for the past help and I look forward to your wisdom in the future. Thanks.
    Jim in Branson, MO.

    1. Hi Jim–thanks for stopping by–yes I would have preferred Salem would not have rolled in the site to the site–but they bought it so what can one say. Hopefully I can add some value to your investing. We have a long way to go on this site, but we have lots of plans (but not too much time) so hopefully we can execute.

      Good luck

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