By Devika Patel
Knoxville, Tenn., Oct. 12 – Fortegra Financial Corp. priced a $125 million private placement of 8.5% resetting junior subordinated notes due 2057 on Oct. 12, according to an 8-K filed with the Securities and Exchange Commission.
Proceeds will be used to repay Fortegra’s credit facility, which will then be terminated.
Fortegra is a Jacksonville, Fla.-based company that provides insurance services to other businesses.
| Issuer: | Fortegra Financial Corp.
|
| Issue: | Resetting junior subordinated notes
|
| Amount: | $125 million
|
| Maturity: | 2057
|
| Coupon: | 8.5%
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 16
|
| Distribution: | Private placement
|
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