AmTrust Financial redeems $234.26 million 2.75% convertible notes

By Sarah Lizee

Olympia, Wash., Jan. 17 – AmTrust Financial Services, Inc. redeemed all $234,257,000 of its outstanding 2.75% convertible senior notes due 2044, according to an 8-K filing with the Securities and Exchange Commission.

The convertibles were redeemed on Jan. 14 at a redemption price of $939.52 per $1,000 principal amount plus accrued interest to but excluding the redemption date.

The company used cash on hand along with borrowings under its credit agreement to fund the redemption.

AmTrust is a New York-based insurance company.

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