Featured Articles
Paragon Shipping 8.375% Senior Notes Due 2021 Finally Trading
Tim McPartland | September 9, 2014
Greek dry bulk shipper Paragon Shipping (ticker:RGN) issued Senior Notes last month which we announced on the 5th of August and they finally began trading last Friday. These notes have a coupon of 8.375% although it appears that trading began in the $22.50 area which implies a current yield of 9.3%. These notes mature in 2021 and this is the most…
Previewing the Week Ahead
Tim McPartland | September 8, 2014
September 8, 2014 10 amWhen you look at the U.S. economic calendar for this week you will not find anything that will obviously move either equities or interest rates on the docket. We have Goldman and Redbook retail sales on Tuesday and the Census Bureau retail number on Friday. These numbers have been trending higher and expectations are for more…
Mortgage REIT Invesco Mortgage Capital Sells Fixed to Floating Rate Preferred
Tim McPartland | September 7, 2014
Mortgage REIT Invesco Mortgage Capital (ticker:IVR) has sold a fixed to floating rate preferred issue which will begin to trade tomorrow (Monday) on the OTC market.The issue is a 7.75% fixed rate for the next 10 years--then floating. Invesco Mortgage Capital has a preferred issue outstanding that is a 7.75% coupon which trades just under par at $24.75. We believe…
Invesco Mortgage Capital 7.75% Fixed to Floating Series B Preferred Stock
Tim McPartland | September 7, 2014
Date Issued 9/5/2014 Shares Issued 6,000,000 Overallotment Shares 900,000 S&P Rating NR Moodys Rating NR Security Ticker Symbol IVR-B OTC Temp Ticker IVSGP Market Traded ON NYSE Dividend Payment Paid on the 27th of March, June, September and December beginning on 12/27/2014 Quarterly Dividend .484 Annual Dividend 1.938 Dividends will float after 12/27/2024 at…