Kingstone Cos. Inc. has priced an offering of $30 million of 5.50% senior unsecured notes due 2022.
The price to purchasers was 99.456% of the principal amount of the notes representing a yield-to-maturity of 5.625%. The offering is expected to close Dec. 19.
Kingstone plans to use the net proceeds mainly to support organic growth, including contributions to Kingstone Insurance Co., and for general corporate purposes.
Sandler O'Neill & Partners LP is acting as underwriter for the offering.