trending Market Intelligence /marketintelligence/en/news-insights/trending/D3yLd8iBL1uivtmvqhEItw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Syncora to merge with subsidiary, go into liquidation

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Syncora to merge with subsidiary, go into liquidation

Syncora Holdings Ltd. intends to merge with its subsidiary Syncora Holdings US Inc. and adopt a liquidation plan for the company.

Both matters are subject to approval from shareholders at a special general meeting Jan. 28.

Syncora will cancel 3.04 million shares held by Syncora Holdings U.S., which will merge with its parent company prior to liquidation.

In December 2019, the company sold subsidiary Syncora Guarantee Inc. to Star Insurance Holdings LLC for $429 million in cash. The company will distribute the net cash proceeds from the sale and other available cash among shareholders. Syncora Holdings U.S. may also make subsequent liquidating distributions to the company in the future.

The company expects to retain approximately $32 million in cash to satisfy expenses and liabilities. The remaining amount will be distributed among shareholders.

The liquidation process is expected to be completed by the end of 2020 or early 2021. If it takes longer than three years, there may be adverse U.S. federal income tax consequences.

The company also said it may not be able to monetize its interest in Swap Financial Group LLC and Crown Global Insurance Group, LLC, along with other retained assets.