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.