Conifer offers to exchange 2023 notes for new 2028 notes

By Marisa Wong

Los Angeles, June 26 – Conifer Holdings, Inc. is offering to exchange any and all of its outstanding 6.75% senior notes due 2023 for new 9.75% senior notes due 2028, according to a 424B4 filing with the Securities and Exchange Commission.

The issuer is offering $25 principal amount of new notes for each $25 principal amount of existing notes.

The offer expires at 5 p.m. ET on July 25. Tenders may be withdrawn prior to the deadline.

If the exchange offer is not fully subscribed, the company intends to redeem all or a portion of the remaining existing notes using proceeds from a concurrent but separate cash offering of new 9.75% senior notes due 2028.

Holders of the existing notes are not obligated to tender their notes in the exchange offer in order to participate in the new offering, the company noted.

Janney Montgomery Scott LLC and American Capital Partners, LLC are acting as dealer managers for the exchange offer.

Wilmington Trust, NA (fax 302 636-4139; attn.: workflow management; DTC@wilmingtontrust.com) is the exchange agent.

The property and casualty insurance company is based in Troy, Mich.

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