While I didn’t hold any of the issues called today by Telephone and Data Systems (TDS) and majority owned US Cellular (USM) I hate to see 3 baby bonds go all at once.
As noted by Woody, Greg and mbg earlier today the related companies are calling 3 issues of baby bonds.
TDS is calling the TDJ (7.00%) and TDE (6.875%) issues. TDS had 4 issues outstanding so 2 remain. You can see them here. Call date is 5/12/2021.
Us Cellular (USM) is calling the UZB (7.25%) baby bond effective on 5/12/2021.
USM has will continue to have 4 baby bonds outstanding. You can see them here.
All of these issues fell about 1% this morning as they got ahead of themselves and holders will take a small loss of the calls.
I had these issues on my ‘watch list’ for dividend/interest captures, but did not hold any as they were too high in price and we all knew calls were likely coming.