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Business development company, Triangle Capital Corp (ticker:TCAP) has priced a new $25 note issue. The coupon will be 6.375%.TCAP being a BDC will be required to have asset coverage of 200% of debt--this gives the issue an added level of safety.We will likely buy a position in this debt issue as it has a relatively short maturity date in 2022.Details…

Date Issued   2/6/2015Shares Issued  3,000,000   Over Allotment Shares 450,000 S&P Rating  NRSecurity Ticker Symbol   TCCBMarket Traded ON   NYSEInterest Payment Paid on the 15th of March, June, September and December beginning on 3/15/2015Quarterly Interest   .398   Annual Interest   1.594Securities may be redeemed, at the issuers option, as early as 3/15/2018 for a redemption price of $25/share plus accrued interestInterest Payment Will NOT be Qualified Distributions.…

Tim thanked us for publishing notes on perpetuals versus term preferred.  We just do our best with this 'hobby'.Glenn sent us a note to let us know we were missing the Seaspan Senior Notes (ticker:SSWN) from the list of debt issues maturing within 10 years.  Thanks Glenn--we added it to the list-you were correct.Kevin asked about the Star Bulk Carriers…

If nothing else these giant sized daily gains in the stock market give us time to reflect and plan. Since we don't react too much to day to day changing prices of common stocks (although not a day goes by that we don't ponder an option trade--most likely one in which we would lose money) it does give us time…

In what is likely a premature move higher in energy prices energy stocks moved the market sharply higher the last hour of trading today. At 2 pm the DJIA was flat on the day after being down over 100 points early on--and then did a giant lift in the last hour--based on mostly nothing. Energy prices were up--based on nothing…