Canadian Underwriter

Kingsway America to reopen securities offering

March 16, 2004   by Canadian Underwriter

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The U.S. arm of Kingsway Financial Services Inc., Kingsway America, will reopen an offering of senior notes valued at US$25 million. The 7.5% notes are due 2014 and are guaranteed by the parent company.
This is from the same series of notes offered by the company back in late January, when US$100 million worth were issued. Price to investors is 100.663% of the notes’ face value, with interest accruing from January 18, 2004.
Kingsway can have the notes redeemed from February 1, 2009 onward.
Proceeds from the offering will go to pay short-term bank debts, Kingsway America says.

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