Have any of the long investors here considered TANN? They are the 8.25% exchange traded bonds that Tragic Accident issued. They go ex-dividend (or is it ex-interest) on 3/27 and the interest payment is about .51 cents. They are clearly worth a look if you like the company.
Plus, they are a decent holding in a tax-deferred account. Good holding for a regular or Roth IRA account. While I don't lke the common stock, the bonds really do look decent.
I've done lots of common stock investing/trading but I know little about senior notes (other than the wiki definition). Where did you find the ex-dividend date of March 27 and where is the best place to get the specifics on TANN?
Thanks to the investors that replied to your question. Quantumonline is probably the best place to find information on TANN. My TD Ameritrade account states that the ex-interest date is March 27, but the payment will likely be a little less this quarter as it will not be for quite the whole 90 days.
However, if you like the company, TANN is probably a good way to play the company and pays very good interest. It's callable in 3 years, but is still worth a good look. The company has little debt and the default rate appears to be low.
This CAN be a great investment if you're looking to diversify against TA (long stock) this is a Debt instrument, which as a hedge will show strength in the company as this trades. "blueskydriving" has great comments below. So, as TANN trades (hopefully always above par-$25, the stock is worth owning. IF, this trades below par...TANN then shows the company could be in trouble, thus a dump of stock (pricing will reflect) so, having this investment as an indicator is actually a great instrument. As far as making money....it's just the dividend, there's really won't be much upside, unless a bunch of div. hungry dumdums buy it up (in price), I personally think the note (TANN) will be called in 2016 (or it's first call date) there's no need for them to pay out this % when money is pretty much free. I'm not 100% sure why TA issued this, as they really didn't need the debt, BUT by doing it, and paying out this %div.rate, shows strength in the company to perform, so.....good? and bad? At this point I don't care, since it's an instrument to gauge TA stock pricing.
Google Quantomonline and do a symbol search for TANN ... if you sign up for an account you will get a lot of great information on TANN and many other income investments ...
TravelCenters of America LLC., 8.25% Senior Notes due 2028, issued in $25 denominations, redeemable at the issuer's option on or after 1/15/2016 at $25 per note plus accrued and unpaid interest, and maturing 1/15/2028. Interest distributions of 8.25% per annum ($2.0625 per annum or $0.515625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 1/1, 4/1, 7/1 & 10/1 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date).