Hallmark Financial to sell $25 million $25-par senior notes due 2024

By Stephanie N. Rotondo

Phoenix, Aug. 11 – Hallmark Financial Services Inc. launched an offering of $25 million of $25-par senior notes due August 2024, according to a prospectus filed with the Securities and Exchange Commission on Monday.

Sandler O’Neill + Partners and Incapital are the joint bookrunning managers.

The notes will be redeemable.

The Fort Worth, Texas-based insurance holding company intends to use the proceeds for working capital and general corporate purposes, which may include funding opportunistic business acquisitions and common stock repurchases.

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