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.
Details of the offering are here.