2 More New Issue Preferreds

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June 12, 2014  10 am

There are 2 new issues trading today on the OTC grey market.

Capital One Financial has issued a barely investment grade non cumulative issue at 6.25%.  All of the details are here.


Legacy Reserves LP has issued another series of their 8% fixed to floating rate preferred (they had just issued a like series a couple months ago).  Details of the issue are here.

Neither of these issues holds interest to us.  Capital One is just too low of a coupon and we had previously purchased the last preferred series of Legacy Reserves LP.  We don’t believe that either of these hold too much potential for capital gains in the very near term.


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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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