Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa

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Aareal Bank AG ADR reports Q2 results
Aug 11 2016, 08:51 ET | About: Aareal Bank AG ADR (AAALY) | By: Gaurav Batavia, SA News Editor
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Aareal Bank AG ADR (OTCPK:AAALY): Q2 net income of €83M

Net interest income of €181M (-5.7% Y/Y)

Press Release
 
Qwest files to sell $850M in 40-year notes
Aug 11 2016, 17:55 ET | By: Jason Aycock, SA News Editor
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Qwest, the wholly owned unit of CenturyLink (NYSE:CTL), is selling $850M in new long-term debt.

The company will sell that amount in 6.5% notes due 2056; underwriters have an option to buy up to $127.5M more to cover over-allotments.

Qwest will seek to list the notes on the NYSE and will use proceeds for debt repayment (including rolling over $661.25M in 7.375% notes due 2051).

The offer is expected to close Aug. 22. Joint book-runners are Merrill Lynch; Pierce, Fenner & Smith; Morgan Stanley; RBC Capital Markets; and Wells Fargo.
 
Industrial REIT Rexford Industrial Sells a Lousy Preferred
August 11, 2016
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Industrial REIT Rexford Industrial (NYSE:REXR) has sold a new preferred stock with a lousy coupon of 5.875%. This issue is now trading on the OTC Grey market under the ticker RXFFP and is trading in the area of $25.37. Honestly this is a ridiculous price for a very mediocre REIT.

With the hunt for yield investors have continually accepted lower rates (if they are buying issues like this one they are “accepting” the rate) that do not match the risk presented by issues such as this one. While REXR has performed reasonably well recently when the time arrives for interest rates to move higher (and it will arrive someday—when no one knows) issues like this one will be punished severely. If we fall into a recession of any magnitude mediocre companies like REXR will be spanked hard as there financials will be severely impacted.

Beside the above we note that all of the warehouses and manufacturing buildings that the REIT owns are in Southern California—not some of them–all of them. Being geographically concentrated is not desirable for the obvious reasons (if the local market in Southern California becomes overbuilt rents will be depressed and without diversity you will get hammered).

This issue has the normal terms–redeemable after 5 years at the issuers option and cumulative in respect to dividends. Being a REIT the dividends are NOT qualified for preferential tax treatment.

Details of this issue can be found here.
 
Probabilmente oggi il settore "marinaro" ne risentirà:
By MarketWatch.comAug. 12, 2016, 2:55 a.m. EST
Danish shipping and energy conglomerate A.P. Moeller-Maersk A/S said Friday its second-quarter net profit plunged compared with a year earlier, hit by tumbling freight rates and weak oil prices as earnings dropped across all business units. Full Story
 
Nei giorni scorsi preso Aviva 8.25%, senior, rating A. Non ho trovato nulla sulla call del 1/12.
Confido magari che la brexit li fermi un attimo a pensare. Se calla ho fatto patta.
 
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