Insurer Argo Group International Holdings (AGRO) has priced the previously announced resettable fixed rate preferred.
The pricing will be 7% and when it begins to reset in about 5 years it will reset at the 5 year treasury plus a spread of 6.712%. The 1st reset is on 9/15/2025–and then every 5 years there after.
The pricing term sheet can be read here.