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Argo Group International Holdings, Inc. Announces Full Redemption of Outstanding Depositary Shares Representing Interests in its 7.00% Resettable Fixed Rate Preferred Stock, Series A, and Full Redemption of Argo Group US, Inc.'s Outstanding 6.500% Senior Notes Due September 15, 2042 and Intent to Voluntarily Delist and Deregister
NEW YORK, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Argo Group International Holdings, Inc. (formerly kno...
About this update from Argo Graphene Solutions Corp.
[{"type":"text","content":"Argo Group International Holdings, Inc. Announces Full Redemption of Outstanding Depositary Shares Representing Interests in its 7.00% Resettable Fixed Rate Preferred Stock, Series A, and Full Redemption of Argo Group US, Inc.’s Outstanding 6.500% Senior Notes Due September 15, 2042 and Intent to Voluntarily Delist and Deregister\n\n\n\n NEW YORK, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Argo Group International Holdings, Inc. (formerly known as Argo Group International Holdings, Ltd.) (“Argo” or “the Company”), an underwriter of specialty insurance products, today announced that, on September 15, 2025 (the “Redemption Date”), (i) the Company will redeem (the “Preferred Redemption”) all 6,000 outstanding shares of its 7.00% Resettable Fixed Rate Preferred Stock, Series A (the “Series A Preferred Stock”), and the corresponding 6,000,000 depositary shares, each representing a 1/1,000th interest in one share of Series A Preferred Stock (the “Depositary Shares”) and (ii) the Company’s wholly-owned subsidiary Argo Group US, Inc. (“Argo US”) will redeem (the “Notes Redemption” and, together with the Preferred Redemption, collectively, the “Redemption”) all of the outstanding $143.75 million aggregate principal amount of Argo US’ 6.500% Senior Notes due September 15, 2042 (the “Notes”).\n \n\n\n Preferred Redemption\n \n\n\n The Depositary Shares will be redeemed for a redemption price equal to $25.00 per Depositary Share (equivalent to $25,000 per share of Series A Preferred Stock) plus the amount of declared and unpaid dividends, without interest on such unpaid dividends, and the amount equal to the portion of the quarterly dividend attributable to 1/1,000th of a share of Series A Preferred Stock to the then-current dividend period that has not been declared and paid to, but excluding, the Redemption Date (the “Preferred Redemption Price”).\n \n\n The Depositary Shares are held through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the applicable procedures of DTC. Payment to DTC for the Depositary Shares will be made by Equiniti Trust Company, LLC, the Company’s redemption agent (the “Redemption Agent”),...