Assured Guaranty to issue $350m in senior notes

Credit reinsurer Assured Guaranty will issue $350 million worth of bonds which will be used to redeem a previous debt offering.

Bermuda-based Assured Guaranty said the senior notes will be issued with a 6.125% coupon and will be redeemed in 2028 and are expected to settle on August 21.

“The net proceeds from the sale of the notes will be used to redeem all $330 million outstanding principal amount of AGUS’ 5.0% Senior Notes due 2024 and for general corporate purposes,” the company said.

The joint book-running managers for the offering are Goldman Sachs & Co. LLC and BofA Securities, Inc. In addition, Loop Capital Markets LLC and KeyBanc Capital Markets Inc. are co-managers.