ACE Announces Planned Redemption of Subsidiary Trust Preferred Securities
ACE Limited announced that, on July 12, 2004, its subsidiary, Capital Re LLC, will redeem all $75 million of its 7.65 percent Cumulative Monthly Income Preferred Shares, Series A at $25 per share plus accumulated and unpaid dividends to the redemption date.
“Capital Re LLC will pay its normal dividend of $0.159375 per share on June 30, 2004 to holders of record as of June 29, 2004,” said the announcement. “The redemption is being funded by a portion of the net proceeds of certain senior notes recently sold by ACE INA Holdings Inc,” (See IJ Website June 3-4 “National”).
Popular Today
- The Murdaugh Drama in SC Continues: Store That Sold Beer Now Suing its Insurers
- Lyft is a Motor Carrier and State Farm Can be Sued Directly, Georgia Court Says
- Lowe’s Scraps Some DEI Policies as Activist Claims a New Win
- Mailing a Letter, in Context With Other Clues, Is Sufficient Cancellation – NC High Court