Oaktree Capital Group: This 6.55% Preferred Stock Has Begun Trading On The NYSE [Seeking Alpha]
OAKTREE CAPITAL GROUP (OAK)
Last oaktree capital group earnings: 7/25 08:30 am
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US:NYSE Investor Relations:
ir.oaktreecapital.com
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Source: Seeking Alpha
Summary Introduction In this article, we want to shed some light on the new preferred units issued by Oaktree Capital Group, LLC (NYSE: OAK ). Our main goal is to acquaint market participants with the product and see how it holds up against its peer group, while maintaining a relatively neutral stance in terms of investment recommendations along the way. The New Issue Before we dip into our brief analysis, here is a link to the 424B5 Filing by Oaktree Capital Group, LLC . Source: SEC.gov For a total of 9.4 million units issued, the total gross proceeds to the company are $235 million. You can find some relevant information about the new preferred units in the table below: Source: Author's spreadsheet Oaktree Capital Group 6.550% Series B Preferred Units (NYSE: OAK.PB ) pays a fixed dividend at a rate of 6.625%. The new preferred units carry a BBB S&P rating and are callable as of 09/15/2023. Currently, the new issue tr
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