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Still Waiting on Pricing

We are still awaiting pricing on a number of previously announced new issues.

Insurance/annuity company American Equity Investment Life Holding Co (AEL) announced a new issue on Tuesday the 12th. This will be a fixed-rate reset preferred–non cumulative when it comes.

Global Ship Lease (GSL) announced a new baby bond yesterday. This will be a senior unsecured note with a maturity date in 2024–the company has indicated pricing in the 8% area.

Priority Income Fund (nontraded) filed a registration statement a couple of weeks ago indicating a potential new term preferred would be coming. Typically Priority announces these and then it takes 3-4 weeks before we see anything firm on an actual sale.
Given that they have 5 issues outstanding whether they sell another new issue is of little consequence to me–I have a little taste of the PRIF-D 7% issue already.

We will post as soon as further info becomes available.

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