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No. of Recommendations: 3
I know some folks are always on the lookout for new preferred opportunities.

I had previously looked into shipping company TOO preferreds when they were significantly below par, but had gotten rescued by an investment firm. Thus shoring up the company's financials and ensuring liquidity.

While there is still some risk in this company, it's no where near what it once was. I thought it might be of interest to those looking for income. It's first call date is 2/15/2025 and it's paying 8.875% and is priced a little below par at 24.58.

Here's the Quantumonline specifics of the E issue:
eekay Offshore Partners, 8.875% Series E Fixed/Float Cumul Red Perp Prfd Units
http://www.quantumonline.com/search.cfm?tickersymbol=TOO-E&a...

Good Luck To All!

-srockaz
No TOO positions of any kind
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