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Large business development company Prospect Capital Corporation sold a new $25 baby bond (any bond with a par value under $1,000 is technically a "baby bond") issue with a maturity date in 2024.Prospect Capital Corporation (ticker: PSEC), one of the whales in the BDC arena with assets of over $6 billion, has shares that are trading at a large discount to…

Issue Date  12/09/2015Shares Sold  6,000,000   Overallotment Shares  900,000S&P Rating  BBB-   Moodys  NRThis issue is investment grade.Security Ticker Symbol   PBBMarket Traded ON   NYSEInterest Payment Paid on the 15th of March, June, September and December beginning on 03/1/2016Quarterly Interest   .391   Annual Interest   1.5625Securities may be redeemed, at the issuers option, as early as 12/15/2018 for a redemption price of $25/share plus accrued…

After last week's OPEC meeting, which ended as expected with no new limits on production, energy prices are tumbling sharply and predictions of future crude prices in the $20s abound.Preferred stocks of some of the dicier MLPs (Master Limited Partnerships), which had already been sold down on expectations of possible distribution suspensions, are being driven down to levels that predict…

  Recapping the important news in income securities in the last month. New issues, bankruptcies, major movers and dividend suspensions  New Issues in November of Preferred Stocks There were two new preferred stock issues during November, as well as one new Baby Bond (exchange-traded debt issue). Property and casualty insurer Endurance Specialty Holdings LTD (ticker: ENH) sold a Non Cumulative Redeemable preferred issue with a coupon of…

It is wise to take a few minutes from time to time to identify problems and weaknesses in a portfolio.This year certainly has been a tough one on income investors, but that is no reason to neglect standard porfolio maintenance. In fact, times such as now behoove investors to review their holdings to weed out the issues no longer worth…