Farmers Insurance Exchange Announces Pricing of its $300 million 7.000% Surplus Notes due 2064 [Yahoo! Finance]
ZURICH INS GROUP S/ADR (ZURVY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
announced the pricing of its offering (the "Offering") of $300 million aggregate principal amount of surplus notes (the "Surplus Notes"). Interest will accrue on the Surplus Notes at a fixed rate of 7.000% per annum from October 9, 2024 . Subject to certain restrictions, Farmers Exchange may redeem, in whole or in part, the Surplus Notes (i) during the three-month period prior to, and including, October 15, 2054 (the "Par Call Period"), at a redemption price equal to 100% of the principal amount of the Surplus Notes to be redeemed and (ii) at any time on any date that is not within the Par Call Period, at a redemption price equal to the "make-whole" redemption price, in each case, plus accrued and unpaid interest thereon, if any, to the redemption date. The Surplus Notes will mature on October 15, 2064 Farmers Exchange intends to use the net proceeds from the Offering for general corporate purposes. The Surplus Notes have not been and will not be registered under the Securities Ac
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