secwatch.observer — SEC 8-K summary
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Issuer:     OCTAVE SPECIALTY GROUP INC (OSG)
CIK:        0000874501
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0000874501-23-000098
Event type: other_material
Sentiment:  neutral
Materiality: 0.15
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Ambac notifies AMPS holders of LIBOR-to-SOFR replacement effective July 1, 2023
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- Reference rate for eight series of AMPS will switch from one-month LIBOR to one-month CME Term SOFR plus 0.11448% spread adjustment.
- Effective date: LIBOR Replacement Date expected July 1, 2023, per LIBOR Act and Federal Reserve Regulation ZZ.
- No dividend payments on AMPS have been made since 2010; change applies to calculation of Auction Rate for future dividends if declared.
- AMPS series A-H affected (CUSIPs listed); governing documents lacked a replacement benchmark rate provision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874501/000087450123000098/0000874501-23-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874501/000087450123000098/ambc-20230615.htm
  HTML page:      https://secwatch.observer/filing/0000874501-23-000098

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