Sagicor issues notice of redemption for 8 7/8% notes due 2022

By Rebecca Melvin

Concord, N.H., June 11 – Sagicor Finance (2015) Ltd. plans to buy back its 8 7/8% senior notes due 2022 (Cusips: 78669PAA0, G7776BAA3) for an aggregate redemption price of about $188 million, according to a press release.

Sagicor Financial Co. Ltd. is the guarantor.

As previously announced, the redemption price is expected to be funded from the proceeds of the company’s $400 million of 5.3% senior notes due May 13, 2028. Proceeds from the new offering were also used to repurchase about $130 million principal amount of the 2022 notes in May.

Sagicor is a financial services company operating in Latin America and the Caribbean. The issuer is based in George Town, Cayman Islands.

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