Insurer National General Holdings Prices a Preferred Offering
By: Tim McPartland,
Specialty insurer National General Holdings Corp has priced a new preferred offering of preferred stock at 7.50%. Since National General Holdings is an insurer the shares are non-cumulative and have the typical 5 year to the optional redemption period in 2020.
Since these shares are perpetual we will not purchase this issue at this time.
Shares trade tomorrow (Wednesday) on the OTC Grey market under the temporary ticker of NTGKP.
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Details of the offering are here.
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Tim McPartland
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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.
