We have said it before, but worth repeating especially when investors have been practically forced into risky instruments by ZIRP.
“Seadrill Ltd., the London-based offshore driller controlled by billionaire Norwegian shipping magnate John Fredriksen, filed bankruptcy protection in the Southern District of Texas after working out a deal with most of its senior lenders to inject $1 billion of new money into the company pursuant to a pre-arranged plan of reorganization.”
The Institute for Supply Management (ISM) said its manufacturing index in August climbed to 58.8% from 56.3% in July. The highest reading since April 2011.
The 30-year fixed-rate mortgage averaged 3.82% in the week ending Aug. 31, down from 3.86%, mortgage buyer Freddie Mac said Thursday.
See PZC for a recent example of a dividend cut and share price.
In the news …
A new issue from GasLog Partners L.P. (NYSE: GLOP)
A new Baby Bond from Qwest.
TICC Capital (NASDAQ: TICC) has sold a new baby bond issue with a coupon of 6.50%.
The state of California’s early order period, in which municipal bonds are made available to individuals on a first-priority basis, is today.
An offering in the news …
CALIFORNIA ST MUN FIN AUTH REVENUE OID
REF-CMNTY MED CENTERS-SER A
Interest Rate: 4.00%
Call Features: 2/1/2027 @ 100
Yield to Call: 4.00%
Yield to Maturity: 4.00%