National General calls series A, series B preferreds, 7.625% notes

New York, Jan. 4 – National General Holdings Corp. announced the redemption of its 7.5% series A non-cumulative preferred stock, its 7.5% series B non-cumulative preferred stock and its 7.625% subordinated notes due 2055.

All the securities will be redeemed on Feb. 3, according to a news release.

The redemption price for the preferreds will be the liquidation preference of $25 per share plus unpaid dividends while the notes will be redeemed at par of $25 plus accrued interest.

In addition, the company said it plans to redeem its 7.5% series C non-cumulative preferred stock when it becomes callable in July.

National General is a New York-based specialty personal lines insurance holding company and a subsidiary of Allstate Corp.

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