Featured Articles
Global Economy at Risk with Potential Iraq Government Overthrow
Tim McPartland | June 12, 2014
June 11, 2014 11 pmInvestors need to be paying close attention to the unfolding events in Iraq as any sense of organized government crumbles and 3,500,000 barrels of daily oil production are at risk. At the risk of sounding selfish, while people are being slaughtered in Iraq, 3.5 million barrels of oil represents 5% of global production--we don't have 1…
Capital One Financial 6.25% Non Cumulative Perpetual Preferred Stock – Series C
Tim McPartland | June 11, 2014
Date Issued 6/12/2014Shares Issued 20,000,000 Overallotment shares 0S&P Rating BB+ Moodys Rating Baa3Security Ticker Symbol COF-C OTC Temporary Ticker CONFPMarket Traded ON NYSEDividend Payment Paid on the 1st of March, June, September and December beginning on 9/01/2014Quarterly Dividend .3906 Annual Dividend 1.5625Securities may be redeemed, at the issuers option, as early as 09/01/2019 for a redemption…
Legacy Reserves LP 8% Fixed to Floating Rate Cumulative Redeemable Preferred-Series B
Tim McPartland | June 11, 2014
Date Issued 6/12/2014Shares Issued 7,000,000 Overallotment shares 1,050,000S&P Rating NR Moodys Rating NRSecurity Ticker Symbol LGCYO OTC Temp Ticker LRPSPMarket Traded ON NASDAQDividend Payment Paid on the 15th of each month beginning on 05/15/2014Monthly Dividend .167 Annual Dividend 2.00After 6/15/2024 the dividend rate will be floating at 5.256% plus 3 month libor.Securities may be redeemed,…
A Plethora of New Issues
Tim McPartland | June 11, 2014
June 9, 2014 9 pmThere is a selection of new preferred shares coming to market--one which began trading on Friday.1st is Resource Capital Corporation (a specialty finance REIT)(ticker:RSO) which has issued a 8.625% fixed to floating, cumulative preferred stock. This is a bit unusual in that all of the fixed to floating rate preferreds issued to date have been issued by bank…
