HC2 Holdings begins 7.5% convertible notes exchange

Chicago, Jan. 25 – HC2 Holdings, Inc. plans to exchange $37 million of its 7.5% convertible senior notes due June 1, 2022 for new convertible notes on substantially the same terms due Aug. 1, 2026, according to a press release.

The company plans to enter into an exchange agreement with certain holders of its convertible notes.

The exchange was announced with a concurrent offering of $300 million of senior secured notes due 2026.

HC2 recently announced that it is planning to refinance substantially of its existing debt.

HC2 is a diversified holding company based in New York.

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