October 18, 2017
We have been watching Newtek Business Services for a long time-probably six months if not longer. We have wanted to buy but the price was too high, or it simply dropped off our watch list, or we just forgot about it.
Well, anyway, the FBI showed up on one of their subsidiaries last week and all hell broke loose. After looking at the circumstances, it appears this is one of those cases where the bark is worse than the bite. So the price for the exchange traded debt is reasonable-altho not at fire sale prices-and we want to buy.
The link to the article is below where the author talks about this situation.
The symbol is NEWTL
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States.
QUANTUMONLINE.COM SECURITY DESCRIPTION: Newtek Business Services Corp., 7.00% Notes due 2021, issued in $25 denominations, redeemable at the issuer’s option on or after 4/22/2017 at $25 per note plus accrued and unpaid interest, and maturing 3/31/2021. Interest distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively
“But then NPR wouldn’t be National Propaganda Radio and PBS wouldn’t be the Propaganda Broadcasting Service.” (unknown)