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Reinsurance company Axis Capital Holdings LTD (NYSE:AXS) has sold a 22,000,000 share preferred stock offering with the typical stingy coupon of 5.50%.  The company is investment grade rated so this coupon was expected. The shares are trading on the OTC Grey Market under the temporary ticker of AXHHF and has traded in the $24.65 to $24.85 range since trading began.…

Whether it be the specter of a Fed Funds rate hike in December or simply a tiredness caused by a vicious political campaign REITs are being unloaded at a quick pace--today being down by about 2%.  While the viciousness of the REIT drop isn't being lavished upon preferred stocks and baby bonds, the direction is the same--down.  Preferreds and baby…

Date Issued   11/01/2016 Shares Sold  22,000,000            Overallotment Shares   2,000,000 S&P Rating   BBB   Moodys Rating   Baa3 Security Ticker Symbol   AXS-E              OTC Grey Market   AXHHF Market Traded ON    NYSE Dividend Payment Paid on the 15th of January, April, July and October beginning on 01/15/2017…

Date Issued    11/1/2016 Shares Offered   4,000,000   Overallotment Shares  600,000 S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   HT-E     OTC Temp Ticker   HRSHP Market Traded ON   NYSE Dividend Payment Paid on the 15th of January, April, July and October beginning on 01/15/2017 Quarterly Dividend   .40625   Annual Dividend   1.625 Securities may be redeemed, at…

People’s United Financial Inc.  (NASDAQ:PBCT) has sold a junk rated fixed-to-floating preferred stock issue with an initial coupon of 5.625%.  Shares will trade on the NASDAQ under the ticker symbol of PBCTP after temporary trading on the OTC market. This new issue will carry the initial 5.625% coupon until 12/14/2026 when the dividend will move to “floating” with quarterly rate…