American Financial Group, Inc. Announces the Pricing of $150 Million Aggregate Principal Amount of Subordinated Debentures Du...
10 11월 2015 - 7:26AM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced today that
it priced an offering of $150 million aggregate principal amount of
6% Subordinated Debentures due 2055 (the “Debentures”).
The offering is expected to close on November 17, 2015, subject
to customary closing conditions. The Company intends to apply to
list the Debentures on the New York Stock Exchange under the symbol
“AFGH”. If approved for listing, trading of the Debentures on the
New York Stock Exchange is expected to commence within 30 days
after they are first issued.
The net proceeds of the offering will be used for general
corporate purposes, which may include repurchases of the Company’s
outstanding common stock.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS
Securities LLC and Wells Fargo Securities, LLC are joint
book-running managers of the offering.
This offering is being made pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (“SEC”) and only by means of a prospectus
supplement and accompanying prospectus. Copies of these documents
may be obtained from:
- Merrill Lynch, Pierce, Fenner &
Smith Incorporated, at 222 Broadway, 11th Floor, New York, NY
10038, Attention: Prospectus Department, toll free number:
1-800-294-1322 or email: dg.prospectus_requests@baml.com;
- UBS Securities LLC, at 1285 Avenue of
the Americas, New York, New York 10019, Attention: Fixed Income
Syndicate, toll-free number: 1-888-827-7275; and
- Wells Fargo Securities, LLC, at 608 2nd
Avenue, South Minneapolis, Minnesota 55402, Attention: WFS Customer
Service, toll-free number: 1-800-645-3751 or email:
wfscustomerservice@wellsfargo.com.
Alternatively, one may obtain these documents for free by
visiting EDGAR on the SEC website at http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor does it
constitute an offer, solicitation or sale in any jurisdiction where
such offer, solicitation or sale is not permitted.
About American Financial Group,
Inc.
American Financial Group, Inc. (“AFG”) is an insurance holding
company, based in Cincinnati, Ohio with assets of approximately $50
billion. Through the operations of Great American Insurance Group,
AFG is engaged primarily in property and casualty insurance,
focusing on specialized commercial products for businesses, and in
the sale of fixed and fixed-indexed annuities in the retail,
financial institutions and education markets. Great American
Insurance Group’s roots go back to 1872 with the founding of its
flagship company, Great American Insurance Company.
Forward Looking
Statements
This press release contains certain statements that may be
deemed to be “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements in this press
release not dealing with historical results are forward-looking and
are based on estimates, assumptions and projections. Examples of
such forward-looking statements include statements relating to:
AFG’s expectations concerning market and other conditions and their
effect on future premiums, revenues, earnings and investment
activities; recoverability of asset values; expected losses and the
adequacy of reserves for long-term care, asbestos, environmental
pollution and mass tort claims; rate changes; and improved loss
experience.
Actual results and/or financial condition could differ
materially from those contained in or implied by such
forward-looking statements for a variety of reasons including but
not limited to: changes in financial, political and economic
conditions, including changes in interest and inflation rates,
currency fluctuations and extended economic recessions or
expansions in the U.S. and/or abroad; performance of securities
markets; AFG’s ability to estimate accurately the likelihood,
magnitude and timing of any losses in connection with investments
in the non-agency residential mortgage market; new legislation or
declines in credit quality or credit ratings that could have a
material impact on the valuation of securities in AFG’s investment
portfolio; the availability of capital; the possibility that the
pending sale of AFG’s run-off long-term care business is not
consummated; regulatory actions (including changes in statutory
accounting rules); changes in the legal environment affecting AFG
or its customers; tax law and accounting changes; levels of natural
catastrophes and severe weather, terrorist activities (including
any nuclear, biological, chemical or radiological events),
incidents of war or losses resulting from civil unrest and other
major losses; development of insurance loss reserves and
establishment of other reserves, particularly with respect to
amounts associated with asbestos and environmental claims and AFG’s
run-off long-term care business; availability of reinsurance and
ability of reinsurers to pay their obligations; trends in
persistency, mortality and morbidity; competitive pressures,
including those in the annuity distribution channels, the ability
to obtain adequate rates and policy terms; changes in AFG’s credit
ratings or the financial strength ratings assigned by major ratings
agencies to AFG’s operating subsidiaries; and other factors
identified in AFG’s filings with the Securities and Exchange
Commission.
The forward-looking statements herein are made only as of the
date of this press release. AFG assumes no obligation to publicly
update any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151109006801/en/
American Financial Group, Inc.Diane P. Weidner,
513-369-5713Asst. Vice President - Investor Relations
American Financial (NYSE:AFG)
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