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…
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…