Textainer Group Holdings (TGH) has announced another new issue of perpetual preferred stock.
The shipper container lessor already has 1 other issue outstanding which can be seen here.
The preliminary prospectus can be found here.
af was right on top of this one and posits some yield talk in the 6.375 to 6.50% area.
9 thoughts on “Textainer Group Holdings to Sell New Preferred Issue”
looks like the temporary ticker is set to be TGHPV
Is there a ‘new ticker’ section on otcmarkets? I’m familiar with the Corporate Actions page (https://www.otcmarkets.com/market-activity/corporate-actions), but it only seems to show name/ticker changes, not the release of the new ticker.
Thanks af–now if they would just announce the pricing.
Their current issue is at 6.56% yield based on current price so maybe no bargain here.
True, but remember TGH.A goes ex in 2 weeks so you will pocket .44 cents, which at current price of 26.44 will bring the stripped price down to 26.00 and the yield up to about 6.7% (if my calculation is correct)
It’s popping- Ask 26.88, last 26.62 w/ 37¢ B/A spread.
The outstanding issue is also a 5 year reset, which I see as attractive. So not exactly apples to apples.
You are correct af–the old issue doesn’t have ‘reset’ in the name but it is fact a reset.