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Stock impact report

AMG Announces Pricing of Junior Subordinated Notes Offering

Affiliated Managers Group, Inc. (AMG) 
Last affiliated managers group, inc. earnings: 4/27 07:03 am Check Earnings Report
US:NYSE Investor Relations: ir.amg.com
Company Research Source: GlobeNewswire
WEST PALM BEACH, Fla., March 21, 2019 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE: AMG) today announced that it priced its underwritten public offering of $280 million of Junior Subordinated Notes due 2059 (the "Junior Subordinated Notes") at a price equal to 100% of par. AMG has also granted the underwriters a 30-day option to purchase up to an additional $42 million of Junior Subordinated Notes. The offering is expected to close on March 27, 2019, subject to the satisfaction of customary closing conditions. The Junior Subordinated Notes will bear interest at a fixed rate of 5.875% per year. Subject to AMG’s right to defer interest payments, interest for the Junior Subordinated Notes will be payable quarterly in arrears on March 30, June 30, September 30 and December 30 of each year, commencing on June 30, 2019. AMG plans to use the net proceeds from the Junior Subordinated Notes offering primarily to pay down its revolving credit facility and this financing wil Show less Read more
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