njhowie
Thinks s/he gets paid by the post
- Joined
- Mar 11, 2012
- Messages
- 3,931
Here's one of mine that just passed the call date last month, has a respectable coupon, and will likely not be called prior to maturity in 2031. My YTM on it is 4.37%.
CUSIP 485321AN3 - Kansas Power Pool 4.6% 8/1/2031
Why won't they call? Issue size of 2031 maturity = $305,000. Issue size of 4% 2023 maturity = $790,000. Likely not worth the effort or costs to refinance such small amounts. On the other hand, since the amounts are so small, you'd think they might want to call and just pay them off. They have the cash available to do it, and they are generating positive cash flow annually. Who knows?
Looking at the trade activity, nothing since my purchase in November last year, and before that, nothing since January 2013 - the month after it was issued.
https://emma.msrb.org/Security/Details/?id=485321AN3
CUSIP 485321AN3 - Kansas Power Pool 4.6% 8/1/2031
Why won't they call? Issue size of 2031 maturity = $305,000. Issue size of 4% 2023 maturity = $790,000. Likely not worth the effort or costs to refinance such small amounts. On the other hand, since the amounts are so small, you'd think they might want to call and just pay them off. They have the cash available to do it, and they are generating positive cash flow annually. Who knows?
Looking at the trade activity, nothing since my purchase in November last year, and before that, nothing since January 2013 - the month after it was issued.
https://emma.msrb.org/Security/Details/?id=485321AN3
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