Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa

[NoWay]

Rayonier Advanced Materials Inc. — Preferred Stock Offering

Company: Rayonier Advanced Materials Inc. (NYSE:RYAM)
Date announced: 8/4/2016
Shares Offered: 1,500,000
Date of Pricing: 8/4/2016
Price Per Share: $100.00
Preferred Stock Offering Details: Rayonier Advanced Materials Inc. (the "Company") (NYSE:RYAM) today announced the pricing of its underwritten public offering (the "Offering") of 1,500,000 shares of the Company's 8.00 percent Series A Mandatory Convertible Preferred Stock (the "Mandatory Convertible Preferred Stock"). The underwriters of the Offering have a 30-day option to purchase a maximum of 225,000 additional shares of Mandatory Convertible Preferred Stock to cover over-allotments. The offering price is $100 per share. The Offering is expected to close on August 10, 2016, subject to customary closing conditions.

Rayonier Advanced Materials is a manufacturer of cellulose specialties products and commodity products. These products produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics. Co.'s primary products consist of: Cellulose specialties, which are natural polymers, used as raw materials to manufacture a range of consumer-oriented products such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, rayon yarn for tires and industrial hoses, food casings, paints and lacquers; Commodity products, which are used for viscose and absorbent materials applications.

 

[NoWay]

I dettagli della nuova emissione Seaspan...

Seaspan Corporation — Preferred Stock Offering

Company: Seaspan Corporation (NYSE:SSW)
Date announced: 8/4/2016
Shares Offered: 9,000,000
Date of Pricing: 8/4/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Seaspan Corporation ("Seaspan") announced today that it plans to offer shares of its Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") in a registered public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. -updated 8/4- easpan Corporation ("Seaspan") announced today that it has priced its previously announced $225 million public offering of its 7.875% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") at $25 per share. Seaspan has granted the underwriters of the offering a 30-day option to purchase up to an additional $33.75 million of Series H Preferred Shares on the same terms and conditions. The offering is expected to close on August 11, 2016.

Seaspan is an independent charter owner and manager of containerships. Co. primarily deploys its vessels on long-term, fixed-rate time charters. As of Feb. 29, 2016, Co. operates a fleet of 85 vessels and has entered into contracts to purchase an additional 9 containerships. The average age of the 85 vessels in Co.'s operating fleet was approximately 8 years as of Feb. 29, 2016. Co. operates in markets that are very competitive and based primarily on supply and demand. Co. competes for charters based upon price, customer relationships, operating and technical expertise, professional reputation and size, age and condition of the vessel.

 

[Peco]

Grazie , non molto confortante Sei sempre investito su di lei ?

Ne avevo parecchie adesso molte meno ma non penso ci possano essere problemi per il div. della pref.( isin US50575Q2012).

 

[Peco]

Cosa ne pensi?

Dopo aver chiuso il 2014 con un utile di 33,4 milioni Ladenburg Thalmann Fin nel 2015 ha chiuso con una perdita di 11,2 milioni, niente di grave ma anche nei primi 6 mesi del 2016 non riesce a invertire il trend negativo, la perdita netta per il semestre chiuso al 30 Giugno 2016 è stato di $ da 15,4 milioni, rispetto alla perdita di $ 6,0 milioni nello stesso periodo del 2015 e per il settore le prospettive non sono buone. Se escludiamo le preferred (14.683.000 di azioni) i debiti a lunga scadenza sono 52 milioni,poi c’è una linea di credito non utilizzata di 40 milioni , una parte consistente dei flussi di cassa sono al servizio del debito. Al 7 Marzo circa il 46.69% delle azioni ordinarie era in mano a dirigenti e soci. Non paga e non prevede di pagare dividendi sulle azioni ordinarie.

Non sono sicurissimo ma credo che abbiano rimborsato totalmente nel primo trimestre questo prestito :

In connection with the Securities America acquisition, we entered into a senior loan agreement with

various lenders, under which the lenders loaned us $160,700, a portion of which we used to fund the

acquisition. We refer to this loan as the November 2011 Loan. Interest on this loan is payable quarterly at

11% per year. Interest is payable in cash; however, we may pay interest-in-kind with the consent of certain

lenders. This payment-in-kind feature increases the principal sum outstanding on the note that is due at

maturity by the amount of such payment-in-kind. All interest payments through December 31, 2015 have been

paid in cash. This loan, together with accrued and unpaid interest thereon, is due on November 4, 2016. We

may voluntarily repay the November 2011 Loan at any time without premium or penalty. In connection with

this loan, we issued to the lenders warrants to purchase an aggregate of 10,713,332 shares of our common

stock, of which 10,699,999 are outstanding as of December 31, 2015. These warrants are exercisable at any

time prior to their expiration on November 4, 2016 at $1.68 per share, which was the closing price of our

common stock on the acquisition closing date.

As of December 31, 2014, we had prepaid $130,872 of the principal of the November 2011 Loan with

proceeds from the Series A Preferred Stock offerings. During the twelve months ended December 31, 2015,

we prepaid an additional $11,852 of the principal of the November 2011 Loan with proceeds of the Series A

Preferred Stock offerings. At December 31, 2015, $17,976 remained outstanding under the November 2011

Prossimi dividendi già dichiarati per la preferred

Data di registrazione Data di pagamento

15 agosto 2016 29 Agosto 2016

15 Settembre 2016 28 settembre 2016

 

[bulogna]

Venduto

Dopo aver chiuso il 2014 con un utile di 33,4 milioni Ladenburg Thalmann Fin nel 2015 ha chiuso con una perdita di 11,2 milioni, niente di grave ma anche nei primi 6 mesi del 2016 non riesce a invertire il trend negativo, la perdita netta per il semestre chiuso al 30 Giugno 2016 è stato di $ da 15,4 milioni, rispetto alla perdita di $ 6,0 milioni nello stesso periodo del 2015 e per il settore le prospettive non sono buone. Se escludiamo le preferred (14.683.000 di azioni) i debiti a lunga scadenza sono 52 milioni,poi c’è una linea di credito non utilizzata di 40 milioni , una parte consistente dei flussi di cassa sono al servizio del debito. Al 7 Marzo circa il 46.69% delle azioni ordinarie era in mano a dirigenti e soci. Non paga e non prevede di pagare dividendi sulle azioni ordinarie.

Non sono sicurissimo ma credo che abbiano rimborsato totalmente nel primo trimestre questo prestito :

In connection with the Securities America acquisition, we entered into a senior loan agreement with

various lenders, under which the lenders loaned us $160,700, a portion of which we used to fund the

acquisition. We refer to this loan as the November 2011 Loan. Interest on this loan is payable quarterly at

11% per year. Interest is payable in cash; however, we may pay interest-in-kind with the consent of certain

lenders. This payment-in-kind feature increases the principal sum outstanding on the note that is due at

maturity by the amount of such payment-in-kind. All interest payments through December 31, 2015 have been

paid in cash. This loan, together with accrued and unpaid interest thereon, is due on November 4, 2016. We

may voluntarily repay the November 2011 Loan at any time without premium or penalty. In connection with

this loan, we issued to the lenders warrants to purchase an aggregate of 10,713,332 shares of our common

stock, of which 10,699,999 are outstanding as of December 31, 2015. These warrants are exercisable at any

time prior to their expiration on November 4, 2016 at $1.68 per share, which was the closing price of our

common stock on the acquisition closing date.

As of December 31, 2014, we had prepaid $130,872 of the principal of the November 2011 Loan with

proceeds from the Series A Preferred Stock offerings. During the twelve months ended December 31, 2015,

we prepaid an additional $11,852 of the principal of the November 2011 Loan with proceeds of the Series A

Preferred Stock offerings. At December 31, 2015, $17,976 remained outstanding under the November 2011

Prossimi dividendi già dichiarati per la preferred

Data di registrazione Data di pagamento

15 agosto 2016 29 Agosto 2016

15 Settembre 2016 28 settembre 2016

Venduto Ladenburg. Le ultime notizie non mi soddisfano Graficamente dovrebbe aver poco up ma potenziali down fino a 23.
Le mie analisi sono personali e non sono un incentivo a comprare o vendere il titolo. Sono solo un punto di vista in più. Ognuno ragioni con la propria testa.

 

[Fabrib]

Cortesemente, potreste confermarmi che il sito gira lentissimamente? o è solo un mio problema?

 

[NoWay]

Cortesemente, potreste confermarmi che il sito gira lentissimamente? o è solo un mio problema?

Sì, ieri c'erano problemi...

 

[Fabrib]

Grazie, vedo ora che giriamo a pieno regime.

 

[NoWay]

http://seekingalpha.com/article/3997623-kinder-morgan-9_75-percent-preferred-shares-risk-collapse

 

[Fabrib]

Closed End Fund Bancroft Fund Ltd. Sells Top Quality Preferred
August 8, 2016
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Closed End Fund (CEF) Bancroft Fund Ltd (NYSECV) has sold a high quality preferred stock with a 5.375% coupon. While the coupon seems very modest the reward equals the risk as this is a low risk issue.

Long term readers will recall that closed end funds are limited in their use of leverage. In the case of preferred stock CEFs must maintain a 200% asset coverage ratio. With BCV this is no problem whatsoever as Moodys has assigned a A1, investment grade rating, to this issue based upon a very strong 500% asset coverage ratio.

Just as a refresher let’s review the legal backing of the “asset coverage” test. The key document regulating investment companies, including closed end funds, is The Investment Company Act of 1940. Section 18 of the “act” spells out the capital structure that must be used for investment companies. It explicitly outlines that preferred stock must have a asset coverage ratio of at least 200%. It goes on to mandate that distributions on securities that are junior to the preferred (such as common shares) can NOT be paid if the asset coverage ratio is not maintained. Additionally the act provides that if an asset coverage ratio of 100% of less occurs for 12 months senior security holders are able to elect a majority of the board of directors. If dividends are not paid on senior securities for 2 years senior security holders may elect at least 2 directors. Of course there are further provisions in the “act”, but the above are key to CEFs being able to garner an investment grade on their preferred shares.

Bancroft Fund Inc. has not had impressive performance over the years (they have been around since 1971), but we aren’t overly concerned with the actual fund performance in this case. We simply care that they maintain a solid asset coverage ratio. Additionally, while the name Bancroft Fund Ltd may not ring a bell with investors, most will certainly recognize closed end fund operator Gabelli who actually operates this fund pursuant to a recent alliance with Bancroft. Given the historical use of preferred stock by Gabelli it is no surprise that BCV would now choose to sell a new issue.

This new issue is cumulative in respect to dividends and pays qualified dividends (meaning dividends are taxed at the lower capital gains tax rate).

Details of this new issue can be found here.

This issue began trading on the OTC Grey market on Monday and is trading in the $25-$25.20/share area.