The new Subordinated Debentures issued last week by insurance company American Financial Group (NYSE:AFG) have now begun to trade.
The issue is trading on the NYSE under the ticker AFGB. The issue, which carries a decent coupon of 5.875%, traded in a very narrow range of $25 to $25.08 during initial trading Tuesday.
The company sold 5 million shares (bonds) which will have a early call period starting on 3/30/2024 and have a maturity date of 3/30/2059.
The shares are rated Baa2 by Moodys and BBB- by Standard and Poors.