Opinions Randy LeClair
Capstone Infrastructure Corp.CSE.PR.A.TOCOMMENTSep 08, 2014
$19.65
Stock price when the opinion was issued
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COMMENT
This is yielding 7%. When it resets in 2021, it is an 8.5% yield, which is attractive. It is expensive in after-tax dollars for the company, so they might have an incentive, if rates go up, to call this preferred.
Steve DiGregorioOwned
managementdiversified
Preferred A’s. Very low rated at P4. It’s also a very small issue. This is a lot more risky in the world of preferred shares. It is yielding quite nice, but there is a reason the yield is so high.