Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item |
Maiden Holdings repurchases $152.5 million trust preferreds in full
By Tali Rackner
Minneapolis, Jan. 15 - Maiden Holdings, Ltd. redeemed all $152.5 million of its 14% trust preferred securities, according to a press release.
The company used the proceeds of its fourth-quarter issuance of 30-year 7¾% senior notes to redeem the trust preferreds.
As a result of the redemption, in the first quarter the company will incur an additional non-recurring non-cash charge of $26.1 million, which represents the accelerated amortization of original issue discount associated with the trust preferreds.
Maiden Holdings is a Hamilton, Bermuda-based reinsurance holding company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.