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Posted by
Two Blokes Jul 19 -
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Stock
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SPME offers a 7.875% nominal yield, is well-covered by assets, and is priced near par, making it attractive for income-focused portfolios. Sound Point Meridian Capital's asset coverage ratio is 380%, nearly double the legal requirement, providing strong safety for preferred shareholders. SPME's risk premium and credit quality are in line with sector peers, with no deterioration since the company's last issue, and the company outperforms in total return its direct peers.
