trending Market Intelligence /marketintelligence/en/news-insights/trending/BiZ_RJgNbY_gx5APzp0Q-w2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Maiden Holdings prices noncumulative preference shares offering

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Investment Research Brokers Ramp up Cryptocurrency Coverage

Blog

COVID-19 Impact & Recovery: Financial Industry Outlook for H2 2021


Maiden Holdings prices noncumulative preference shares offering

Maiden Holdings Ltd. priced an underwritten public offering of $150 million of its 6.700% noncumulative preference shares, series D.

The preference shares have a liquidation preference of $25 per share and are not redeemable before June 15, 2022, except in certain limited events.

Maiden Holdings expects to receive the offering's net proceeds June 15. The company will use the net proceeds to repay its outstanding $100 million aggregate principal amount of 8.00% notes due 2042, to support and develop its reinsurance business and for other general corporate purposes.

The company plans to apply to list the preference shares for trading on the New York Stock Exchange under the symbol MHPRD.

Bank of America Merrill Lynch, Morgan Stanley and UBS Investment Bank are the joint book-running managers for the offering. FBR Capital Markets & Co., JMP Securities and Compass Point are the co-managers.