debt
confidence high
sentiment neutral
materiality 0.60
Assured Guaranty to redeem $330M 5% notes due 2024, issues $350M 6.125% notes due 2028
ASSURED GUARANTY LTD
- Redeems $330M of 5.000% Senior Notes due 2024 on Sep 25, 2023 at 100% of principal plus accrued interest.
- Issues $350M of 6.125% Senior Notes due 2028 in public offering, fully guaranteed by Assured Guaranty Ltd.
- Redemption price includes make-whole premium of treasury rate plus 40 bps if greater than par.
- New notes carry higher coupon (6.125% vs 5%) and longer maturity (2028 vs 2024), extending debt profile.