Asset manager Affiliated Managers Group (NYSE:AMG) has priced their new issue of baby bonds.
The issue will have a maturity date of 3/30/2059 and will have an early redemption period starting 3/30/2024.
The coupon will be 5.875% and the company will sell 11.2 million shares.
The issue is investment grade rated at BBB by S&P and Baa1 by Moodys.
The interest payments are not qualified payments for preferential tax treatment.
There is no OTC early trading in this issue.