Leave a comment

PLACING ORDER, TENDER OFFER, AND CALL

December 10, 2019. If you own the Credit Acceptance corporate bond that we hold in the Core Portfolio, you have received a tender offer: they will buy your bonds if you want to sell them. We are NOT selling as it provides us a nice yield. HOLD.

Also, if you own SAB Saratoga a position in the Core Portfolio, you may receive a PARTIAL CALL on your shares: they are taking about two thirds of our position.

__________

TCRZ THL Credit is going ex dividend on Thursday. It MAY drop down to the $25.25 area, at which point we want to BUY. We are placing a BUY LIMIT Good Until Cancel order at $25.25 and will just wait to see what happens. We suggest you do NOT pay more than this price. Right now, the yield is a nice 6.6%.

THL Credit is an experienced alternative credit investment manager with $16.8 billion1 of assets under management. Headquartered in Boston, with offices in Chicago, Dallas, Los Angeles and New York, we pride ourselves on having a national presence with a strong regional focus.

Our Direct Lending and Tradable Credit investment strategies invest across the entire capital structure through public and private vehicles, commingled funds including collateralized loan obligations (CLOs) and separately managed accounts.

Our investment strategies and credit expertise accommodate a spectrum of targeted return profiles, while our creativity and flexibility enable us to create customizable investment products to meet the needs of our investors.

THL Credit, Inc., 6.75% Notes due 12/30/2022
Ticker Symbol: TCRZ     CUSIP: 872438304     Exchange: NYSESecurity Type:   Exchange-Traded Debt Security

QUANTUMONLINE.COM SECURITY DESCRIPTION:  THL Credit, Inc., 6.75% Notes due 2022, issued in $25 denominations, redeemable at the issuer’s option on or after 12/30/2018 at $25 per note plus accrued and unpaid interest, and maturing 12/30/2022. Interest distributions of 6.75% per annum ($1.6875 per annum or $0.421875 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest.

__________

With “hope” running high that things can continue going into 2020, the question becomes whether or not the Presidential election cycle can hold its performance precedent.  Since 1871, markets have gained in 35 of those years, with losses in only 11.

Since 1948, there have only been two losses during presidential election years which were 2000 and 2008. In fact, stocks have, on average, put in their second-best performance in the fourth year of a president’s term. (The third year has been best as we are seeing currently.) 

__________

President Trump’s approval rating has risen six points since November amid public hearings that Democrats hoped would boost their case for impeachment.

But 52% of likely voters in the latest Rasmussen Reports Presidential Tracking Poll approve of Trump’s job performance.

On Nov. 26, Rasmussen found that 46% approved.

Former President Obama’s approval rating at this point in his first term was 46%.

NOW IN OUR 8TH YEAR. NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. Dividend Income Investor is designed for investors seeking income by using preferreds, BDCs, REITs, Closed End Funds, baby bonds and corporate bonds. Don’t forget to hit the like button. Go Here For “About Our host WordPress is running ads in the blog and we receive NO compensation from this advertising.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: