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.