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Argo Group International Holdings, Inc. Announces Full Redemption of Outstanding Depositary Shares Representing Interests in its 7.00% Resettable Fixed Rate Preferred Stock, Series A, and Full Redemption of Argo Group US, Inc.'s Outstanding 6.500% Senior
GlobeNewswire News Roomยท 2025-08-15 13:26
Core Viewpoint - Argo Group International Holdings, Inc. announced the redemption of all outstanding shares of its 7.00% Resettable Fixed Rate Preferred Stock, Series A, and its 6.500% Senior Notes due September 15, 2042, on September 15, 2025, as part of a strategic financial move [1]. Preferred Redemption - The redemption price for the Depositary Shares will be $25.00 per share, plus any declared and unpaid dividends, and the portion of the quarterly dividend attributable to the current period that has not been declared and paid [2]. - Upon completion of the Preferred Redemption, no Series A Preferred Stock or Depositary Shares will remain outstanding, and all rights related to them will cease, except for the right to receive the Preferred Redemption Price [4]. Notes Redemption - The Notes will be redeemed at 100% of their principal amount plus accrued and unpaid interest up to the Redemption Date [5]. - After the Redemption Date, interest on the Notes will cease to accrue [5][7]. Payment and Procedures - Payments for the Depositary Shares will be made by Equiniti Trust Company, LLC, the Company's redemption agent, following the procedures of The Depository Trust Company [3]. - Payments for the Notes will be made by Computershare Trust Company, N.A., as trustee, in accordance with the governing terms [6]. Delisting and Deregistration - Following the Redemption, the Company plans to delist the Depositary Shares and the Notes from the New York Stock Exchange and to deregister them with the Securities and Exchange Commission [9].