SPMA: An 8.00% Term Preferred IPO From Sound Point Meridian Capital
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Sound Point Meridian Capital Inc has launched an 8% Series A Term Preferred Shares, SPMA, offering a yield to maturity of 8.35%. The shares are trading at $24.90, and despite lacking a credit rating, they are supported by a strong capital structure and significant common distributions.
January 16, 2025 | 9:15 pm
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Sound Point Meridian Capital's 8% Series A Term Preferred Shares, SPMA, provide an attractive yield with a strong capital structure, ensuring financial stability and dividend payments.
The SPMA shares offer a high yield and are supported by a strong capital structure, which is attractive to investors seeking stable income. The lack of a credit rating is mitigated by the alignment of underwriter credit spreads with established sector companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100