National General Holdings (NGHC) has announced the redemption of the 2 outstanding issues of preferred stock. This call has been anticipated since the company was bought by Allstate–although this is quicker than I personally thought since they just closed the purchase late late week.
The company which is now owned by Allstate (ALL) has 3 issues of preferreds outstanding and 1 issue of baby bonds.
They will redeem the Series B 7.50% preferred (NGHCO), the Series A 7.50% preferred (NGHCP) and the 7.625% Subordinated Notes (NGHCZ) all on 2/3/2021.
They are not calling, at this time, the Series C 7.50% preferred (NGHCN) issue–they intend to delist the issue prior to a call in July (when they become redeemable).
ken was right on this one, with LarryL right behind.