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Investors shouldn't get too comfortable with these cushy payouts.

Vector Announces Commencement of Notes Offering of $850 Million of Senior Secured Notes Due 2029 Vector Announces Commencement of Notes Offering of $850 Million of Senior Secured Notes Due 2029 Vector Group Ltd. (NYSE: VGR) (Vector or the Company) announced today that it is commencing an offer to issue and sell $850 million aggregate principal amount of senior secured notes due 2029 (the Notes). There can be no assurance that the offering will be priced or completed. The Notes will be fully and unconditionally guaranteed on a joint and several basis by all of the wholly owned domestic subs...

[December 31, 2020] Vector Announces Notice of Conditional Redemption for Senior Notes Vector Group Ltd. (NYSE: VGR) ("Vector" or the "Company") announced today that it has delivered a conditional notice of redemption (the "Notice") to the trustee of the outstanding 6.125% Senior Secured Notes due 2025 (the "Notes") issued by the Company. The Notice calls for the redemption of all of the outstanding $850 million aggregate principal amount of the Notes on February 1, 2021 (the "Redemption Date") and is conditioned on closing of a refinancing transaction in a principal amount of at least $850,0...

B&G Foods, whose shares trade around $29, tops the list with a 6.5% yield. It owns a portfolio of relatively mature brands. In October, it agreed to buy the Crisco oil business from J.M. Smucker (SJM) for $550 million in cash in a deal that is expected to be meaningfully accretive to earnings. Like other food companies, B&G has gotten a lift as Americans eat more meals at home this year. Sales are expected to rise about 20% in 2020. The company, which has ample debt, trades for about 13 times projected 2021 earnings. Vector Group has an unusual mix of businesses: cigarettes and real e...

Ziel Feldman (right), Nir Meir and the XI (Illustration by Zach Meyer) “What’s the latest?” read the text that popped up on Nir Meir’s phone one Thursday afternoon in July. “Running out of time.” The message to the HFZ Capital Group managing principal was from Adam Gibbons, an executive at CIM Group. The lender was awaiting an overdue payment on $90 million of mezzanine debt it holds on four prewar Manhattan apartment buildings HFZ is converting to condominiums.  “On it,” Meir wrote back. “2 min.” Four hours later, a reference number popped up on Gibbons’ phone. It seem...