Ambac Assurance to redeem $50 million Potomac money market securities

By Toni Weeks

San Diego, Jan. 11 - Ambac Assurance Corp. said that it will fully redeem its Potomac Trust Capital IV Series 2004 securities on Jan. 26, according to a news release.

Ambac's $49,130,000 class A Money Market Security due Feb. 5, 2025 (Cusip 73771QAA4) and its $870,000 class B Money Market Security due Feb. 5, 2025 (Cusip 73771QAB2) will be redeemed at par.

The paying agent is U.S. Bank, St. Paul office (800 934-6802).

Ambac Assurance's parent Ambac Financial Group, Inc. is a New York-based company that provides financial guarantee insurance for public and structured finance obligations. The company filed for bankruptcy on Nov. 8 in the U.S. Bankruptcy Court for the Southern District of New York, and its Chapter 11 case number is 10-15973.

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