AmTrust Financial Services Prices a New Preferred
By: Tim McPartland,
Property and casualty insurer AmTrust Financial Services (ticker:AFSI) has priced a new preferred offering.
The company has priced a new offering at 7.50%. This is a non-cumulative issue, as all insurance and banking issues are, and is perpetual–although it has a potential redemption on 3/19/2020 at par. You can compare this new issue against the 3 other issues that AmTrust has outstanding already here.
The issue has a permanent ticker of AFSI-D, but will begin trading on the OTC grey market on Monday under the temp ticker of AMSVP.
----ADVERTISEMENT----
Tim McPartland
Connect with Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
