Oxford Square offers $25-par notes; Duke Energy preferreds top par; Citigroup higher

By James McCandless

San Antonio, March 26 – The preferred market saw a mixed day as the primary space rumbled along.

In primary activity, Oxford Square Capital Corp. said it plans to price an offering of $25-par notes due 2026.

Meanwhile, Duke Energy Corp.’s new $1 billion 5.75% series A cumulative redeemable perpetual preferred stock closed above par.

The preferreds, trading under the temporary symbol “DUEKL,” were seen landing at $25.39 on volume of about 15.9 million shares.

Sector peer Southern California Edison, a subsidiary of Edison International, saw its 5.375% cumulative fixed-to-floating rate trust preference securities and its 5% cumulative trust preference securities close mixed.

The 5.375% preferreds (NYSE: SCEPrJ) lost 23 cents to close at $21.28 with about 419,000 shares trading.

The 5% preferreds (NYSE: SCEPrL) were up 3 cents to close at $20.27 with about 332,000 shares trading.

In finance, Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities pushed higher.

The preferreds (NYSE: CPrN) picked up 17 cents to close at $27.11 on volume of about 558,000 shares.

Real estate investment trust National Retail Properties, Inc.’s 5.7% series E cumulative redeemable preferreds were negative.

The preferreds (NYSE: NNNPrE) lost 5 cents to close at $25.11 with about 427,000 shares trading.

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