Merged with Apollo Global Management 1/3/2022
The coupon will be fixed until 6/30/2029 at 6.35% after which point the rate will be reset at a rate of 3 month Libor plus a spread of 4.253%, reset quarterly
Sector: Insurance
Conifer Holdings Inc. 6.75% Senior Unsecured Notes due 2023
Conifer made an exchange offer for these securities. Offer was to exchange for 9.75% senior notes. The exchange offer expired on 8/1/2023. $6.25 million of new notes were exchanged for old notes–it is assumed the balance is outstanding.
Brighthouse Financial Inc 6.60% Non-Cumulative Preferred Stock, Series A
American International Group Inc. Series A 5.85% Non-Cumulative Perpetual Preferred Stock
American Financial Group Inc. 5.875% Sub Debentures due 2059
The company has the right to defer interest payments for up to 5 years one or more times without causing a default. Interest will accrue.
Arch Capital Group 5.45% Non-Cumulative Preferred Shares, Series F
Enstar Group Limited 7% Perpetual Non-Cumulative Preference Shares, Series E
Hartford Financial Serices Group 6% Non-Cumulative Preferred Stock, Series G
Reinsurance Group of America 6.20% Fixed-to-Floating Rate Subordinated Debentures due 2042
This is an offering by Reinsurance Group of America, Incorporated of $400,000,000 aggregate principal amount of its 6.20% fixed-to-floating rate subordinated debentures due 2042, which are referred to in this prospectus supplement as the “Debentures.” The Debentures are unsecured, subordinated debt instruments, and will initially bear interest commencing on August 21, 2012 to but excluding September 15, 2022, or any earlier redemption date, at an annual rate of 6.20%. We will pay that interest quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on December 15, 2012, to and including September 15, 2022. Commencing on, and including, September 15, 2022, to the maturity date unless redeemed or repaid earlier, the Debentures will bear interest at an annual rate equal to three-month LIBOR, reset quarterly, plus 4.37%. We will pay that interest quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on December 15, 2022. So long as no event of default with respect to the Debentures has occurred and is continuing, we have the right, on one or more occasions, to defer the payment of interest on the Debentures as described in this prospectus supplement for one or more periods of up to five consecutive years without giving rise to an event of default. Deferred interest will accumulate additional interest at an annual rate equal to the annual interest rate then applicable to the Debentures.
The Debentures will be issued in denominations of $25 and integral multiples of $25 in excess thereof. The Debentures will mature on September 15, 2042 (or if such day is not a business day, the following business day).
Reinsurance Group of America 5.75% Fixed to Floating Rate Subordinated Debentures due 2056
Coupopn is fixed at 5.75% until 6/15/2026 after which it is reset quarterly at 3 month Libor plus a fixed spread of 4.04%
So long as no event of default with respect to the Debentures has occurred and is continuing, we may, on one or more occasions, in our sole discretion, defer interest payments on the Debentures for one or more interest periods (each, a “deferral period”) of up to five consecutive years without giving rise to an event of default under the terms of the Debentures. A deferral of interest payments cannot extend, however, beyond the maturity date or the earlier acceleration or redemption of the Debentures. During a deferral period, interest will continue to accrue on the Debentures, and deferred interest payments will accrue additional interest at the then applicable interest rate on the Debentures, compounded quarterly as of each interest payment date to the extent permitted by applicable law. No interest otherwise due during a deferral period will be due and payable on the Debentures until the end of such deferral period except upon an acceleration or redemption of the Debentures during such deferral period.