Signature Bank places $260 million; AmTrust issues $104.7 million; AAC sells $5 million

By Lisa Kerner

Charlotte, N.C., April 20 – Signature Bank placed $260 million of 5.3% 10-year notes, according to a news release.

Proceeds will be used to support the capital requirements of the bank and for general corporate purposes.

Signature Bank is a full service commercial bank based in New York City.

AmTrust Financial Services, Inc. issued a $104.7 million 5.75% four-year promissory note to Delek Finance US Inc. on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The notes were issued to fund a portion of AmTrust’s purchase of Republic Cos., Inc. and its affiliates from Delek 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.

AmTrust is a New York-based financial services provider.

AAC Holdings, Inc. issued $5 million of 12% senior subordinated notes due Oct. 2, 2020 on April 15.

The notes were issued in amounts of $2.5 million to Deerfield Private Design Fund III, LP, $1.4 million to Deerfield International Master Fund, LP and $1.1 million to Deerfield Partners, LP.

Proceeds will be used to fund AAC’s purchase of a hotel that the company expects to convert into sober living beds.

AAC is a Brentwood, Tenn.-based provider of inpatient substance abuse treatment services.

© 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.