Insurance company American Financial Group (AFG) has announced a new issuance of baby bonds.
The company has a number of issues already outstanding–3 baby bond issues to be exact.
The company intends to redeem the 6.25% baby bonds due in 2054 (AFGE), which have been redeemable since 9/30/2019.
The new issue will likely be investment grade (BBB- from S&P and Baa2 from Moodys) so the coupon will be fairly low. The permanent ticker will be AFGC when it begins to trade on the NYSE in a week or two.
5.125%
No change in credit ratings
symbol AFGC
https://sec.report/Document/0001140361-19-021101/
Better coupon than I thought
AFGC is the proposed symbol in this document but I did a stock quote, it is an active symbol for another company, so this cannot be the new symbol. I went to check if it was already trading. A little strange
maybe this is some really old symbol being used. It intially showed up on schwab as $0.75 cents and African Growth Corporation. Now the $0.75 is there but the name of the company is gone.
I just noticed my account was down a little and no sooner than I had investigated the cause you had posted it.
Oh well, I made good money on that one.