Assured Guaranty Prices $350M Senior Notes Offering Due 2028
Portfolio Pulse from Benzinga Newsdesk
Assured Guaranty Ltd.'s subsidiary, Assured Guaranty US Holdings Inc. (AGUS), has agreed to sell $350 million of 6.125% Senior Notes due 2028. The proceeds will be used to redeem all $330 million outstanding principal amount of AGUS' 5.0% Senior Notes due 2024 and for general corporate purposes.
August 17, 2023 | 7:39 am
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Assured Guaranty's new senior notes offering could improve its financial position by replacing older, lower-yield notes with new ones at a higher yield.
The sale of new senior notes at a higher yield will bring in more revenue for Assured Guaranty. This, coupled with the redemption of older, lower-yield notes, could improve the company's financial position and potentially boost its stock price in the short term.
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