Naz News, Gappers and FLE's

[Joe Stocks]

I just signed on to buy some Build America bonds, a sort of ipo coming tomorrow I believe. 7 1/2 % yield.

From the bowels of my farm while cutting grass I think I heard someone say, "bonds." Lo and behold it is my good friend AD. lol!

I assume you are talking about BBN? I just breezed through the prospectus. I don't see anything about a 7.5% dividend but I read it pretty fast.

Commencing with the Trust’s initial dividend, the Trust intends to make regular monthly cash
distributions of all or a portion of its net investment income to common shareholders. We expect to
declare the initial monthly dividend on the Trust’s common shares within approximately 45 days after
completion of this offering and to pay that initial monthly dividend approximately 60 to 90 days after
completion of this offering. The Trust will pay common shareholders at least annually all or substantially
all of its investment company taxable income after the payment of dividends and interest, if any, owed
with respect to any outstanding preferred shares or other forms of leverage utilized by the Trust. The
Trust intends to pay any capital gains distributions at least annually. If the Trust realizes a long-term
capital gain, it will be required to allocate such gain between the common shares and any preferred
shares issued by the Trust in proportion to the total dividends paid to each class for the year in which
the income is realized. The Investment Company Act generally limits the Trust to one capital gain
distribution per year, subject to certain exceptions.

Of course it depends on what these shares sell for to determine yield. Interesting. I will be watching. I posted a watch list of CEF's I am watching here.
http://www.joestocks.com/forum/showthread.php?t=166

Email me or call if you want to discuss.