bulogna
Forumer storico
Il prezzo lo diceva da tempo. Però basta che pa......lle
Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa (3 lettori)
angy2008
Forumer storico
hai un articolo che dà notizia del richiamo? a me hanno mandato solo un messaggio che annuncia una fusione non ben specificata, potrebbe essere anche un richiamo in conseguenza ma non lo vedo scritto da nessuna parte. Anche per sapere quando la pagano.
Fabrib
Forumer storico
Peco, il 15 settembre:
Great Elm Capital Corp. Prices Public Offering of Approximately $28.4 Million of 6.50% Notes Due 2022
WALTHAM, Mass, September 14, 2017 – Great Elm Capital Corp. (NASDAQ: GECC) (the “Company”) announced today the pricing of its public offering of approximately $28.4 million aggregate principal amount of its 6.50% notes due 2022 (the “Notes”), which will result in net proceeds to the Company of approximately $27.0 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.
The Notes will mature on September 18, 2022, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after September 18, 2019. The Notes will bear interest at a rate of 6.50% per year payable quarterly on January 31, April 30, July 31 and October 31 of each year, beginning October 31, 2017. The Company has also granted the underwriters a 30-day option to purchase up to an additional approximately $4.3 million aggregate principal amount of Notes to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions, and the Notes are expected to be delivered on or about September 18, 2017. The Company intends to apply to list the Notes on the NASDAQ Stock Market under the trading symbol “GECCD,” and if the application is approved, expects trading in the Notes to begin within 30 days from the original issue date.
The Company intends to use the net proceeds from this offering and cash on hand to redeem all of its outstanding 8.25% notes due 2020 (the “Full Circle Notes”), which currently amount to approximately $33.6 million plus accrued and unpaid interest. Pending the use of the net proceeds to redeem the Full Circle Notes, the Company may invest the net proceeds of this offering in cash, cash equivalents, U.S. Government securities and other high-quality debt instruments that mature in one year or less, or "temporary investments", as appropriate.
Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSEMKT: LTS), and Oppenheimer & Co. Inc. are acting as book-running managers for the offering. William Blair & Company, L.L.C. is acting as a co-manager for the offering.
Fabrib
Forumer storico
Qualche nome (alcuni a noi ben noti):
https://www.ishares.com/us/products/239543/ishares-mortgage-real-estate-capped-etf
bia06
Listen other's viewpoint avoid conflicts & wars.
Non so se avete gia´ letto quest´articolo su Seeking Alpha:
Pareri? Grazie
Some dangerous preferred stocks were redeemed when we would have thought that
they are completely forgotten.
The redemption spree continues!
Do we attempt to buy an issue that is not getting called for sure during all the
turbulence?
Introduction
The right time to engage in battle with a dangerous preferred stock is during a period of
panic. And recent activity in several issues has shown us that investors are starting to feel
uncomfortable with the Call Risk they are bearing. While we acknowledge this course of
action as the right choice, we are also willing to take the opposite side and try to tame one
of these wild beasts for our portfolio.
Some of you have probably guessed only by the title that this article is related to our
coverage of dangerous preferred stocks from few weeks back. We have also been
monitoring closely redemptions all over the preferred stock universe and doing our best to
give you a heads up on ones which are still available on the market but have had their fate
sealed.
The Company
It is not entirely relevant, but since we are going to focus only on the related family of
preferreds, it would be appropriate to write a few words about Southern Company (NYSE:
SO).
Southern Company ((NYSE
O)) is America’s premier energy company, with 46,000
MW of generating capacity and 1,500 billion cubic feet of combined natural gas
consumption and throughput volume serving 9 million customers through its
subsidiaries. Operations include nearly 200,000 miles of electric transmission and
distribution lines and more than 80,000 miles of natural gas pipeline.
Source: The company's website.
And so on. It would be ambitious to 'cover' everything without diverging from the essence.
9/14/2017 The Dangerous Redemptions - Southern Company (NYSEO) | Seeking Alpha
The Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 2/10
The market is the best storyteller as far as we are concerned with SO:
Source: Barchart.com - SO Daily Chart (1 year)
From a preferred investor's perspective, there is not much to see here simply because if a
company is valued like this by the market, then we surely have nothing to worry about and
can fully submerge into our financial products of interest.
The Catalyst
Like most disaster stories about a dormant preferred stock which has been awakened by
the company long after its call date has passed, this one starts with the announcement
that a offering is on its way and the proceeds will be used wisely:
9/14/2017 The Dangerous Redemptions - Southern Company (NYSEO) | Seeking Alpha
The Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 3/10
USE OF PROCEEDS
The Company intends to use the net proceeds from the sale of the new Class A
Preferred Stock for the proposed redemption of all or a portion of 2,000,000 shares
($50,000,000 aggregate stated capital) of the Company’s 6.50% Series Preference
Stock at a redemption price of $25 per share plus accrued and unpaid dividends to
the redemption date and 6,000,000 shares ($150,000,000 aggregate stated capital)
of the Company’s 6.45% Series Preference Stock at a redemption price of $25 per
share plus accrued and unpaid dividends to the redemption date. The remaining net
proceeds, if any, will be used for the proposed redemption of all or a portion of
1,520,000 shares ($38,000,000 aggregate stated capital) of the Company’s 5.83%
Class A Preferred Stock at a redemption price of $25 per share plus accrued and
unpaid dividends to the redemption date and any additional remaining net proceeds
will be used for general corporate purposes, including the Company’s continuous
construction program. The aggregate redemption price for all of the outstanding
6.50% Series Preference Stock, 6.45% Series Preference Stock and 5.83% Class A
Preferred Stock is $238,000,000 plus accrued and unpaid dividends to the
redemption date. The Company intends to deliver the applicable redemption notices,
if any, concurrently with the issuance of the new Class A Preferred Stock. The
issuance of the applicable redemption notices, if any, is conditioned upon the
successful issuance of the new Class A Preferred Stock.
Source: SEC.gov - 424B5 Filing by Alabama Power
Pareri? Grazie
Some dangerous preferred stocks were redeemed when we would have thought that
they are completely forgotten.
The redemption spree continues!
Do we attempt to buy an issue that is not getting called for sure during all the
turbulence?
Introduction
The right time to engage in battle with a dangerous preferred stock is during a period of
panic. And recent activity in several issues has shown us that investors are starting to feel
uncomfortable with the Call Risk they are bearing. While we acknowledge this course of
action as the right choice, we are also willing to take the opposite side and try to tame one
of these wild beasts for our portfolio.
Some of you have probably guessed only by the title that this article is related to our
coverage of dangerous preferred stocks from few weeks back. We have also been
monitoring closely redemptions all over the preferred stock universe and doing our best to
give you a heads up on ones which are still available on the market but have had their fate
sealed.
The Company
It is not entirely relevant, but since we are going to focus only on the related family of
preferreds, it would be appropriate to write a few words about Southern Company (NYSE:
SO).
Southern Company ((NYSE
O)) is America’s premier energy company, with 46,000MW of generating capacity and 1,500 billion cubic feet of combined natural gas
consumption and throughput volume serving 9 million customers through its
subsidiaries. Operations include nearly 200,000 miles of electric transmission and
distribution lines and more than 80,000 miles of natural gas pipeline.
Source: The company's website.
And so on. It would be ambitious to 'cover' everything without diverging from the essence.
9/14/2017 The Dangerous Redemptions - Southern Company (NYSE
O) | Seeking AlphaThe Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 2/10
The market is the best storyteller as far as we are concerned with SO:
Source: Barchart.com - SO Daily Chart (1 year)
From a preferred investor's perspective, there is not much to see here simply because if a
company is valued like this by the market, then we surely have nothing to worry about and
can fully submerge into our financial products of interest.
The Catalyst
Like most disaster stories about a dormant preferred stock which has been awakened by
the company long after its call date has passed, this one starts with the announcement
that a offering is on its way and the proceeds will be used wisely:
9/14/2017 The Dangerous Redemptions - Southern Company (NYSE
O) | Seeking AlphaThe Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 3/10
USE OF PROCEEDS
The Company intends to use the net proceeds from the sale of the new Class A
Preferred Stock for the proposed redemption of all or a portion of 2,000,000 shares
($50,000,000 aggregate stated capital) of the Company’s 6.50% Series Preference
Stock at a redemption price of $25 per share plus accrued and unpaid dividends to
the redemption date and 6,000,000 shares ($150,000,000 aggregate stated capital)
of the Company’s 6.45% Series Preference Stock at a redemption price of $25 per
share plus accrued and unpaid dividends to the redemption date. The remaining net
proceeds, if any, will be used for the proposed redemption of all or a portion of
1,520,000 shares ($38,000,000 aggregate stated capital) of the Company’s 5.83%
Class A Preferred Stock at a redemption price of $25 per share plus accrued and
unpaid dividends to the redemption date and any additional remaining net proceeds
will be used for general corporate purposes, including the Company’s continuous
construction program. The aggregate redemption price for all of the outstanding
6.50% Series Preference Stock, 6.45% Series Preference Stock and 5.83% Class A
Preferred Stock is $238,000,000 plus accrued and unpaid dividends to the
redemption date. The Company intends to deliver the applicable redemption notices,
if any, concurrently with the issuance of the new Class A Preferred Stock. The
issuance of the applicable redemption notices, if any, is conditioned upon the
successful issuance of the new Class A Preferred Stock.
Source: SEC.gov - 424B5 Filing by Alabama Power
Peco
Forumer storico
Non so se avete gia´ letto quest´articolo su Seeking Alpha:
Pareri? Grazie
Some dangerous preferred stocks were redeemed when we would have thought that
they are completely forgotten.
The redemption spree continues!
Do we attempt to buy an issue that is not getting called for sure during all the
turbulence?
Introduction
The right time to engage in battle with a dangerous preferred stock is during a period of
panic. And recent activity in several issues has shown us that investors are starting to feel
uncomfortable with the Call Risk they are bearing. While we acknowledge this course of
action as the right choice, we are also willing to take the opposite side and try to tame one
of these wild beasts for our portfolio.
Some of you have probably guessed only by the title that this article is related to our
coverage of dangerous preferred stocks from few weeks back. We have also been
monitoring closely redemptions all over the preferred stock universe and doing our best to
give you a heads up on ones which are still available on the market but have had their fate
sealed.
The Company
It is not entirely relevant, but since we are going to focus only on the related family of
preferreds, it would be appropriate to write a few words about Southern Company (NYSE:
SO).
Southern Company ((NYSE
MW of generating capacity and 1,500 billion cubic feet of combined natural gas
consumption and throughput volume serving 9 million customers through its
subsidiaries. Operations include nearly 200,000 miles of electric transmission and
distribution lines and more than 80,000 miles of natural gas pipeline.
Source: The company's website.
And so on. It would be ambitious to 'cover' everything without diverging from the essence.
9/14/2017 The Dangerous Redemptions - Southern Company (NYSE
The Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 2/10
The market is the best storyteller as far as we are concerned with SO:
Source: Barchart.com - SO Daily Chart (1 year)
From a preferred investor's perspective, there is not much to see here simply because if a
company is valued like this by the market, then we surely have nothing to worry about and
can fully submerge into our financial products of interest.
The Catalyst
Like most disaster stories about a dormant preferred stock which has been awakened by
the company long after its call date has passed, this one starts with the announcement
that a offering is on its way and the proceeds will be used wisely:
9/14/2017 The Dangerous Redemptions - Southern Company (NYSE
The Dangerous Redemptions - Southern Company (NYSE:SO) | Seeking Alpha 3/10
USE OF PROCEEDS
The Company intends to use the net proceeds from the sale of the new Class A
Preferred Stock for the proposed redemption of all or a portion of 2,000,000 shares
($50,000,000 aggregate stated capital) of the Company’s 6.50% Series Preference
Stock at a redemption price of $25 per share plus accrued and unpaid dividends to
the redemption date and 6,000,000 shares ($150,000,000 aggregate stated capital)
of the Company’s 6.45% Series Preference Stock at a redemption price of $25 per
share plus accrued and unpaid dividends to the redemption date. The remaining net
proceeds, if any, will be used for the proposed redemption of all or a portion of
1,520,000 shares ($38,000,000 aggregate stated capital) of the Company’s 5.83%
Class A Preferred Stock at a redemption price of $25 per share plus accrued and
unpaid dividends to the redemption date and any additional remaining net proceeds
will be used for general corporate purposes, including the Company’s continuous
construction program. The aggregate redemption price for all of the outstanding
6.50% Series Preference Stock, 6.45% Series Preference Stock and 5.83% Class A
Preferred Stock is $238,000,000 plus accrued and unpaid dividends to the
redemption date. The Company intends to deliver the applicable redemption notices,
if any, concurrently with the issuance of the new Class A Preferred Stock. The
issuance of the applicable redemption notices, if any, is conditioned upon the
successful issuance of the new Class A Preferred Stock.
Source: SEC.gov - 424B5 Filing by Alabama Power
L’autore è da sempre alla ricerca di arbitraggi tra preferred shares, in questo periodo i frequenti richiami possono offrire buone opportunità. Con questo articolo suggerisce di monitorare Southern Company e le sue controllate Georgia Power Alabama Power e Mississippi Power tutte alle prese con nuove emissioni e richiami.
L’articolo del 11/09/2017 termina con questa appendice
Disclosure: Non disponiamo di posizioni in nessuna scorta menzionata, ma possiamo avviare una lunga posizione in GPE-A ( cusip 373334473 ) nelle prossime 72 ore.
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