Featured Articles

Federal Agricultural Mortgage Series C 6% Non Cumulative Fixed to Floating Preferred

Tim McPartland | June 17, 2014
S&P Rating  NR   Moodys Rating  NRSecurity Ticker Symbol   AGM-CMarket Traded ON   NYSEDividend Payment Paid on the 17th of January, April, July and October beginning on 10/17/2014Quarterly Dividend   .375   Annual Dividend   1.50Shares will be fixed rate until 7/18/2024 and then floating at a rate of 3 month libor plus 3.26%Securities may be redeemed, at the issuers option, as early as 07/18/2024 for…

Capitala Finance Sells a Debt Issue

Tim McPartland | June 17, 2014
June 16, 2014  2:27 pmCapitala Finance (a Business Development Company) has sold a 7.125% note issue.  We are interested in these as they have a short maturity date of 2021 (this tends to take some volatility out of the issues during interest rate moves).Capitala Finance has kind of flown under the radar - we don't have it on our BDC…

CANADA OKS OIL PIPELINE TO THE PACIFIC COAST

Tim McPartland | June 17, 2014

Capitala Finance (a BDC) 7.125% Notes

Tim McPartland | June 16, 2014
Date Issued   6/16/2014Shares Issued  4,000,000     Overallotment Shares  600,000S&P Rating   NR    Moodys Rating   NRSecurity Ticker Symbol   CLA   Market Traded ON   NYSEInterest Payment Paid on the 16th of March, June, September and December beginning on 9/16/2014Quarterly Interest   .445   Annual Interest   1.781Securities may be redeemed, at the issuers option, as early as 06/17/2017  the call price is $25 plus…

Colony Financial Corp (a REIT) Prices a Preferred Issue

Tim McPartland | June 16, 2014
June 12, 2014  11 pmColony Financial Corp (a specialty finance REIT) has priced a cumulative preferred issue.  The issue has a 7.50% coupon, which we believe is too low for this particular REIT.  Colony issued preferreds 2 years ago at 8.50% and while we have not dug real deep into Colony Financials recent 10q's we think it is unlikely that…
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