Monroe Capital prices more $25-par preferreds; Brighthouse, AIG improve; JPMorgan mixed

By James McCandless

San Antonio, March 20 – The preferred market saw a mixed day on Wednesday as top-trading issues rose and the primary space bubbled.

Monroe Capital Corp. priced another $40 million of its $25-par 5.75% notes due Oct. 31, 2023.

Ladenburg Thalmann & Co. Inc. is the bookrunner.

The company originally issued $69 million of the notes on Sept. 6, 2018.

In the secondary, Brighthouse Financial, Inc.’s new 6.6% series A non-cumulative preferred stock closed better.

The preferreds, trading under the temporary symbol “BHFLL,” picked up 11 cents to close at $25.17 on volume of about 1.1 million shares.

Sector peer American International Group, Inc.’s 5.85% series A non-cumulative perpetual preferreds saw a slight gain.

The preferreds (NYSE: AIGPrA) were up 3 cents to close at $25.22 with about 326,000 shares trading.

Real estate investment trust AGNC Investment Corp.’s 6.875% series D fixed-to-floating rate cumulative redeemable preferreds (Nasdaq: AGNCN) gained 10 cents to close at $26.08 on volume of about 296,000 shares.

Meanwhile, JPMorgan Chase & Co.’s 6% series EE and 5.75% series DD non-cumulative preferred stock ended mixed.

The series EE preferreds (NYSE: JPMPrC) added 8 cents to close at $26.47 with about 293,000 shares trading.

The series DD preferreds (NYSE: JPMPrD) shaved off 5 cents to close at $25.75 with about 249,000 shares trading.

© 2015 Prospect News.
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