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National General Holdings to issue preferred stock to Aioi Nissay Dowa Insurance

Published 07/09/2018, 10:53 AM
© Reuters.  National General Holdings to issue preferred stock to Aioi Nissay Dowa Insurance
NGHC
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  • National General Holdings (NASDAQ:NGHC) +1.3% entered into an agreement regarding a private placement for the issuance and sale of 120 shares of Fixed/Floating Rate Non-Cumulative Convertible Series D Preferred Stock to Aioi Nissay Dowa Insurance for aggregate proceeds of $30M.
  • Net proceeds shall be used for general corporate purposes.
  • The dividend will be payable semi-annually at the rate of 7% of the liquidation preference thereof through July 15, 2023 and thereafter at the annual rate of Six-Month LIBOR plus 5.4941%.
  • Press Release
  • Now read: Universal Insurance Holdings: An Emerging Dividend Growth Machine


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