Aug. 16, 2023 6:11 PM ETAssured Guaranty Ltd. (AGO)By: Max Gottlich, SA News Editor1 Comment
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Assured Guaranty (NYSE:AGO) said Wednesday its subsidiary, Assured Guaranty US Holdings, has agreed to sell $350M of 6.125% senior notes due 2028, which are expected to settle on Aug. 21, 2023.
Net proceeds from the sale will be used to redeem all $330M outstanding principal amount of AGUS’ 5.0% senior notes due 2024 and for general corporate purposes, the insurer noted.
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Too bad they didn’t refinance the 2024 bonds 3 years ago when they raised $900MM in 10 yr and 30 yr bonds with 3% coupons.