Aspen Insurance buys $66.8 million 7.401% perpetual preference shares for $34.1 million

By Devika Patel

Knoxville, Tenn., April 29 - Aspen Insurance Holdings Ltd. said it repurchased $66.8 million of its 7.401% perpetual preference shares for $34.1 million on March 31.

The company had previously said it planned to buy back the notes using proceeds from an underwritten public offering of 1.22 million common shares via bookrunner Deutsche Bank Securities Inc.

In a press release Wednesday, the Hamilton, Bermuda-based insurance company said the repurchase increased diluted book value per share and diluted net income per share for the first quarter by $0.37 and $0.38, respectively.

© 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.