HCI to redeem all 8% senior notes due 2020 via convertible offering

By Tali Rackner

Norfolk, Va., Feb. 28 – HCI Group, Inc. plans to redeem all of its outstanding 8% senior notes due 2020 using about $40.8 million of the net proceeds from a $125 million convertible senior note offering, according to a press release.

The remaining proceeds will be used for general corporate purposes.

Tampa, Fla.-based HCI is a property and casualty insurer.

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