Homeowners Choice Inc Completes $40 Million Offering Of Senior Notes
Homeowners Choice Inc announced that it has completed an underwritten public offering of $40,250,000 aggregate principal amount of 8.00% senior notes due 2020. The notes will mature on January 30, 2020, and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after January 30, 2016, at a redemption price equal to the principal amount redeemed plus accrued and unpaid interest. The notes bear interest at a rate of 8.00% per year, payable quarterly on January 30, April 30, July 30 and October 30 of each year, beginning April 30, 2013.Homeowners Choice intends to use the net proceeds from this offering for working capital and general corporate purposes. The Company expects the notes to begin trading on the New York Stock Exchange under the ticker symbol "HCJ" on January 31, 2013.
Latest Key Developments in Insurance
- Share this
- Digg this