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Prospect News home > News index > List of issuers Review > Headlines for 2018 > News item
Published on 6/27/2018 in the Prospect News Preferred Stock Daily.

Morning Commentary: Primary market active; AT&T $25-par notes dip; Legacy continues rise

By James McCandless

San Antonio, June 27 – Chicken Soup for the Soul Entertainment, Inc. priced $15 million of $25-par series A cumulative redeemable perpetual preferred stock.

The offering, downsized from $25 million, was launched on June 13.

Ladenburg Thalmann & Co. Inc. is the bookrunner (see related story elsewhere in this issue).

Priority Income Fund, Inc. priced $34 million of $25-par series A preferred stock due 2025 at 6.375%.

The deal was announced Tuesday morning.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and B. Riley FBR, Inc. are the joint bookrunners (see related story elsewhere in this issue).

CM Finance Inc. launched an offering of $30 million of notes due 2023 Wednesday morning

Keefe, Bruyette & Woods, Inc. and Ladenburg Thalmann are the joint bookrunners.

In secondary trading, AT&T Inc.’s 5.35% $25-par global notes due 2066 dominated early trading on Wednesday after the company announced that it would be acquiring digital advertising name AppNexus.

The preferreds (NYSE: TBB) were down 4 cents to $25.18 with about 608,000 in volume.

Legacy Reserves LP’s series A and B 8% fixed-to-floating rate cumulative redeemable perpetual preferred units saw more gains two days after the company announced that it had settled class-action lawsuits with the holders of the units.

The series A units (Nasdaq: LGCYP) were up $1.63 to $18.88 with about 28,000 units trading.

The series B units (Nasdaq: LGCYO) were up $1.56 to $18.82 with about 158,000 units trading.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.06% in early trading after closing down 0.03% at the market close on Tuesday.


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