Oxford Square taps $25-par note market; Duke Energy preferreds close slightly better

By James McCandless

San Antonio, March 27 – Increased issuance in the $25-par note market on Wednesday served as a backdrop for a mixed day in secondary trading.

Oxford Square Capital Corp. priced $42.5 million of $25-par seven-year notes at par on Wednesday. There is a $6,375,000 greenshoe.

In the secondary, Duke Energy Corp.’s new 5.75% series A cumulative redeemable perpetual preferred stock ended slightly better.

The preferreds, trading under the temporary symbol “DUEKL,” were up 1 cent to close at $25.40 on volume of about 2.6 million shares.

Meanwhile, in the banking and finance sectors, Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities continued to climb.

The preferreds (NYSE: CPrN) picked up 23 cents to close at $27.34 with about 492,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferreds followed the positive trend.

The preferreds (NYSE: JPMPrD) added 35 cents to close at $26.15 on volume of about 469,000 shares.

Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferred stock fell on the back of negative headlines.

The preferreds (NYSE: WFCPrQ) dropped 18 cents to close at $25.72 with about 425,000 shares trading.

Brookfield Property Partners LP’s 6.5% series 1 class A cumulative redeemable perpetual preferred units (Nasdaq: BPYPP) edged up 2 cents to close at $24.83.

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