Watford Holdings sets Aug. 1 redemption date for 8.5% preferreds

By Wendy Van Sickle

Columbus, Ohio, July 2 – Watford Holdings Ltd. plans to redeem 6,919,998, or 76.34%, of its 8.5% cumulative redeemable preference shares on Aug. 1, according to a company news release.

The redemption price will be $25.00 per share plus accrued dividends to the redemption date.

The redemption will be funded with proceeds from $175 million of 6.5% senior notes due 2029, which were issued on Tuesday.

Watford is a property and casualty insurance and reinsurance company based in Pembroke, Bermuda.

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