Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Preferreds just keep climbing. AGO -B doing just as I thought climbing nicely past few weeks into exD approaching date.. Really have bought quite a bit into bank trust preferred debt own 4 now. JBK was bought a couple days ago. YTM of
6.1% or so on 2034 maturity. Underlying bond of Goldman Sachs subordinate debt has a make whole provision mitigating call risk. The underlying bond trades at a yield under 5% at $117 so the relative value in owning JBK is there...An unrelated 3rd party made a recent tender for shares at 26.50.
6.1% or so on 2034 maturity. Underlying bond of Goldman Sachs subordinate debt has a make whole provision mitigating call risk. The underlying bond trades at a yield under 5% at $117 so the relative value in owning JBK is there...An unrelated 3rd party made a recent tender for shares at 26.50.