Specialty Insurer Global Indemnity Sells Baby Bonds

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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.

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