Hallmark Financial Services Inc. priced an offering of $50 million of 6.250% senior unsecured notes due Aug. 15, 2029.

The trade date was Aug. 12, while the settlement date is Aug. 19.

The interest will be paid Feb. 15 and Aug. 15 of each year, starting Feb. 15, 2020.

The company expects net proceeds before expenses of about $49.3 million, $30 million of which may be used to repay all of its outstanding secured indebtedness.

The book-running manager is Raymond James & Associates Inc.