Assured Guaranty details upcoming redemption for 5% notes due 2024

By William Gullotti

Buffalo, N.Y., Aug. 21 – Assured Guaranty US Holdings Inc. provided additional details for its upcoming redemption of $330 million outstanding 5% senior notes due July 1, 2024 (Cusip: 04621WAC4), according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on Sept. 25 at the greater of par and the sum of the remaining scheduled payments of principal and interest, discounted at Treasuries plus 40 basis points.

Accrued and unpaid interest will also be paid up to, but excluding, the redemption date.

Bank of New York Mellon Trust Co., NA is the trustee and paying agent.

As previously reported, the redemption will be funded using proceeds from Assured Guaranty US’s $350 million offering of 6.125% senior notes due Sept. 15, 2028 guaranteed by Assured Guaranty Ltd.

Assured is a Hamilton, Bermuda, provider of credit enhancement for municipal finance, structured finance and mortgage markets.

© 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.