No. of Recommendations: 2
My opinion is that if the coupon yield is below 8%, it won't get called/redeemed UNLESS interest rates start declining again. Which is unlikely in the 'short term', however long that is to you.

I think your bar should be closer to 5.5% or so. Case in point, Public Storage (PSA) just called PSA-Y, with a 6.375% coupon, because they were able to issue PSA-H with a 5.6% coupon. In the PSA-H prospectus https://www.sec.gov/Archives/edgar/data/1393311/000119312519... it says:

We intend to use the net proceeds from this offering to make investments in self-storage facilities and in entities that own self-storage facilities, for the development of self-storage facilities, and for general corporate purposes, including the redemption of our 6.375% Series Y Preferred Shares.

AJ
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