By Lisa Kerner
Charlotte, N.C., April 20 – AmTrust Financial Services, Inc. issued a $104.7 million 5.75% four-year promissory note to Delek Finance US Inc. on April 18, according to a form 8-K filed with the Securities and Exchange Commission.
The note was issued to fund a portion of AmTrust’s purchase of Republic Companies, Inc. and its affiliates from Delek Finance US Inc. and Republic Insurance Holdings, LLC.
Principal on the note is payable in four equal installments of about $26.2 million on each of the first four anniversaries of the issuance date.
Interest is payable in arrears on each payment date.
The note may be prepaid at any time, without penalty.
AmTrust is a New York-based financial services provider.
| Issuer: | AmTrust Financial Services, Inc.
|
| Issue: | Promissory note
|
| Amount: | $104.7 million
|
| Coupon: | 5.75%
|
| Maturity: | Four years
|
| Purchaser: | Delek Finance US Inc.
|
| Settlement: | April 18
|
| Distribution: | Private placement
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
