debt
confidence high
sentiment neutral
materiality 0.55
AMG issues $425M of 5.500% Senior Notes due 2036 to refinance trust preferred
AFFILIATED MANAGERS GROUP, INC.
- Issued $425M aggregate principal of 5.500% Senior Notes due February 15, 2036.
- Interest payable semi-annually on Feb 15 and Aug 15, beginning Aug 15, 2026.
- Net proceeds to redeem in full 5.15% Convertible Trust Preferred Securities due 2037 of AMG Capital Trust II.
- Remaining net proceeds for general corporate purposes.
- Notes are unsecured, unsubordinated, and redeemable at make-whole price; underwriters include BofA, Citigroup, Wells Fargo.
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