OriginClear preps offering; Two Harbors jumps; Annaly Capital preferreds better

By James McCandless

San Antonio, April 6 – The preferred market started the week with broad gains as markets expressed optimism.

In primary rumblings, OriginClear Inc. plans to price a $19,145,000 offering of $25-par series M preferred stock with a dividend of 10%.

The secondary market saw REIT Two Harbors Investment Corp.’s 8.125% series A fixed-to-floating rate cumulative redeemable preferred stock jump.

Sector peer AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferred stock improved.

Meanwhile, asset manager Annaly Capital Management, Inc.’s 6.95% series F fixed-to-floating rate cumulative redeemable preferreds ended better.

Oaktree Capital Group, LLC’s 6.55% series B non-cumulative preferred units finished the session on the positive side.

Elsewhere, in the finance space, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock tracked higher.

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