TIG - Trean insurance group increases surplus with $50M notes offering
- Trean Insurance Group ( NASDAQ: TIG ) said it had increased the surplus of its subsidiary Benchmark Insurance Company by completing a private offering of $50M aggregate principal amount of its 6.75% Surplus Notes due August 2042.
- The company said the surplus notes are unsecured, subordinated debt obligations of Benchmark and are planned to be treated as additional surplus.
- All payments of interest on or principal of the surplus notes, and any redemption payment, can be made only with the prior approval of the Commissioner of Insurance of the State of Kansas.
For further details see:
Trean insurance group increases surplus with $50M notes offering