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Convertibles Calendar: Assurant to price
March 7
ASSURANT INC.
• $250 million three-year mandatory convertible preferred stock
• $37.5 million over-allotment option
• Price talk for a dividend of 6.25% to 6.75% and an initial conversion premium of 17.5% to 22.5%
• Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
• Proceeds will be used to help fund the pending acquisition of TWG Holdings Ltd. and refinance its 2.5% senior notes due 2018
• New York-based provider of risk management products and services
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