Specialty Insurer Global Indemnity Sells Baby Bonds
By: Tim McPartland,
Specialty insurance company Global Indemnity plc has sold a new $25 baby bond offering.
Details of the offering are here.
This issue has been trading on the NASDAQ for 3-4 days.
Global Indemnity is a smaller (but nicely profitable) specialty insurer. They currently have no other preferred or baby bond issues outstanding.
This issue has a little longer duration than we would like (maturity 2045), but has a fairly tasty coupon for those looking for a little higher yield.