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Cohen & Steers Quality Income R Message Board

  • murger4money murger4money May 11, 2009 8:52 PM Flag

    ARS Refi - RTU $287M / ~59M shrs

    The big winner in cohen's refi filing with the SEC is likely RTU in my humble opin.

    It holds $287M of ARS which are paying the maximun interest rate since auctions failed last year.

    If they can get short term paper to cash out the $287M of ARS paying max rates then each % point gained is $2.87M annually back to the common. Or 4c a year.

    Could be a good 4-15c of extra income hiding there for RTU common holders. RTU is selling at historically high discounts 20-25% of NAV today.

    Same goes for RQI but to a lessor extent.

    Do your own DD.

 
RQI
12.16-0.13(-1.06%)Mar 26 4:02 PMEDT