angy2008
Forumer storico
visto l'andamento dei titoli Ladenburg qualcuno pensa male ma sono ancora vivi, spero che prosperano e continuino a pagare nei secoli magari astenendosi da altre infruttuose acquisizioni
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Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa (9 lettori)
Fabrib
Forumer storico
Fabrib
Forumer storico
JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced today that its wholly owned subsidiary, JMP Group Inc., has given notice of its intention to redeem $10.0 million principal amount (400,000 Units) of its 7.25% Senior Notes due 2027 (CUSIP No. 466273 109; NASDAQ: JMPNL) (the “2027 Notes”) on February 4, 2021 (the “Redemption Date”). As of January 4, 2021, $50,000,000 in aggregate principal amount of the 2027 Notes were outstanding. The redemption is being made pursuant to the terms of the 2027 Notes and the indenture governing the 2027 Notes. The redemption price per 2027 Note will be $25 plus accrued and unpaid interest up to, but excluding, the Redemption Date. The redeemed 2027 Notes will be cancelled and not subject to reissuance.
JMP Group Inc. instructed U.S. Bank National Association, as the trustee for the 2027 Notes, to distribute a Notice of Redemption on January 4, 2021, to all currently registered holders of the 2027 Notes. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the 2027 Notes may be obtained from U.S. Bank National Association by calling (800) 934-6802 (toll-free). JMP Group Inc. will use available cash to redeem the 2027 Notes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
JMP Group Inc. instructed U.S. Bank National Association, as the trustee for the 2027 Notes, to distribute a Notice of Redemption on January 4, 2021, to all currently registered holders of the 2027 Notes. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the 2027 Notes may be obtained from U.S. Bank National Association by calling (800) 934-6802 (toll-free). JMP Group Inc. will use available cash to redeem the 2027 Notes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
NoWay
It's time to play the game
In pratica ormai o zompano o richiamano... cedolare diventa sempre più complicato...
wallner
Gold Standard
In pratica ormai o zompano o richiamano... cedolare diventa sempre più complicato...
Per quanto mi riguarda rebus sic stantibus ho previsto per il 2021 un'income da dividendi e cedole minore del 14%.
Fabrib
Forumer storico
NEW YORK, Jan. 04, 2021 (GLOBE NEWSWIRE) -- National General Holdings Corp. (Nasdaq: NGHC) (“National General” or the “Company”), a wholly owned subsidiary of The Allstate Corporation, today delivered notices of redemption to, on February 3, 2021 (the “Redemption Date”), redeem in full:
National General also intends to redeem the Depositary Shares, Representing 1/40th of a Share of its 7.50% Non-Cumulative Preferred Stock, Series C (CUSIP No.: 636220857) (collectively, the “Class C Depositary Shares”) and the underlying 7.50% Non-Cumulative Preferred Stock, Series C (par value $0.01 per share) (CUSIP No.: 636220865) (collectively, the “Class C Preferred Stock”) when they become redeemable in July 2021. Prior to the redemption of the Class C Depositary Shares and Class C Preferred Stock, National General will continue to pay quarterly dividends on the Class C Preferred Stock.
National General has notified the NASDAQ Global Select Market (“Nasdaq”) of its intention to, voluntarily delist from Nasdaq the Class C Depositary Shares, and, if permitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), terminate or suspend, as applicable, the registration of the same securities under the Exchange Act.
The Class A Preferred Stock, Class B Depositary Shares, 2055 Notes and Class C Depositary Shares are currently traded on Nasdaq under the symbols NGHCP, NGHCO, NGHCZ and NGHCN, respectively. National General does not plan to (i) list the Class C Depositary Shares another national securities exchange or for the quotation of such securities on any other medium, or (ii) register the Class C Depositary Shares under the Exchange Act.
- all of the issued and outstanding shares of its 7.50% Non-Cumulative Preferred Stock, Series A (par value $0.01 per share) (CUSIP No.: 636220709) (collectively, the “Class A Preferred Stock”), at a redemption price equal to $25.00 per share plus declared and unpaid dividends on the shares of Class A Preferred Stock called for redemption for prior dividend periods, if any, plus accrued but unpaid dividends (whether or not declared) thereon for the then-current dividend period, to, but excluding, the Redemption Date, without accumulation of any other undeclared dividends;
- all of the issued and outstanding Depositary Shares, Representing 1/40th of a Share of its 7.50% Non-Cumulative Preferred Stock, Series B (CUSIP No.: 636220808) (collectively, the “Class B Depositary Shares”) and the underlying 7.50% NonCumulative Preferred Stock, Series B (par value $0.01 per share) (CUSIP No.: 636220881) (collectively, the “Class B Preferred Stock”), at a redemption price equal to $25.00 per Class B Depositary Share (or, as applicable $1,000 per share of Class B Preferred Stock) plus declared and unpaid dividends on the Class B Depositary Shares (or shares of Class B Preferred Stock, as applicable) called for redemption for prior dividend periods, if any, plus accrued but unpaid dividends (whether or not declared) thereon for the then-current dividend period, to, but excluding, the Redemption Date, without accumulation of any other undeclared dividends; and
- the aggregate outstanding principal amount of its 7.625% Subordinated Notes Due 2055 (the “2055 Notes”), in increments of $25 aggregate principal amount of the 2055 Notes, at a redemption price equal to 100% of the principal amount of the 2055 Notes being redeemed plus accrued but unpaid interest to, but not including, the Redemption Date (collectively, the “Redeemed Securities”).
National General also intends to redeem the Depositary Shares, Representing 1/40th of a Share of its 7.50% Non-Cumulative Preferred Stock, Series C (CUSIP No.: 636220857) (collectively, the “Class C Depositary Shares”) and the underlying 7.50% Non-Cumulative Preferred Stock, Series C (par value $0.01 per share) (CUSIP No.: 636220865) (collectively, the “Class C Preferred Stock”) when they become redeemable in July 2021. Prior to the redemption of the Class C Depositary Shares and Class C Preferred Stock, National General will continue to pay quarterly dividends on the Class C Preferred Stock.
National General has notified the NASDAQ Global Select Market (“Nasdaq”) of its intention to, voluntarily delist from Nasdaq the Class C Depositary Shares, and, if permitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), terminate or suspend, as applicable, the registration of the same securities under the Exchange Act.
The Class A Preferred Stock, Class B Depositary Shares, 2055 Notes and Class C Depositary Shares are currently traded on Nasdaq under the symbols NGHCP, NGHCO, NGHCZ and NGHCN, respectively. National General does not plan to (i) list the Class C Depositary Shares another national securities exchange or for the quotation of such securities on any other medium, or (ii) register the Class C Depositary Shares under the Exchange Act.
Peco
Forumer storico
In pratica ormai o zompano o richiamano... cedolare diventa sempre più complicato...
Credo che LTS-A sia stata la prima azione privilegiata che ho acquistato, presa nel 2013, ceduta a novembre 2019 in occasione della fusione con Advisor Group, quando furono costretti a riacquistarla come da prospetto. Il riacquisto della preferred fu finanziato tutto a debito da Advisor, questa operazione fu l’unico costo per la fusione, se non ricordo male più $ 400 milioni. Finora però i vantaggi previsti a seguito della fusione come l’economia di scala non sta dando i risultati sperati anche a causa dell’attuale contesto economico.
Advisor Group e Ladenburg come anche JMP Group o Cowen, Inc sono società franchisor cioè aziende con un business già ben avviato che hanno deciso di espandersi attraverso la creazione di una rete commerciale costituita da franchisee ovvero gli affiliati, questi, in cambio dell'utilizzo del marchio e del know-how, corrispondono una quota d'ingresso (una tantum) e/o una royalties (percentuale periodica sui ricavi) al franchisor. Ladenburg per esempio chiedeva da $ 25.000 a $ 70.000 come quota di ingresso, in base al giro d’affari, più la percentuale periodica.
La cosa che meno mi piace di queste società Franchising è che non possiedono beni tangibili che possono essere trasformati in liquidità nel breve termine, in pancia a queste aziende ci sono solo asset intangibili come conoscenze, competenze, marchi registrati, processi gestionali cioè risorse non facilmente traducibili in termini finanziari a causa della mancanza di criteri standardizzati per una loro valutazione monetaria ma che in caso di CH11 valgono 0.
