Assured Guaranty Announces Pricing of $350 Million Senior Notes Offering

Rhea-AI Summary

Assured Guaranty Ltd. (NYSE: AGO) subsidiary, Assured Guaranty US Holdings Inc. (AGUS), is selling $350 million of 6.125% Senior Notes due 2028. The proceeds will be used to redeem $330 million of AGUS' 5.0% Senior Notes due 2024 and for general corporate purposes.

HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (NYSE: AGO) announced that its subsidiary, Assured Guaranty US Holdings Inc. (AGUS), has agreed to sell $350 million of 6.125% Senior Notes due 2028. The notes are guaranteed by Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty). The notes are expected to settle on August 21, 2023, subject to customary closing conditions.

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 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.

The offering is being made only by means of a prospectus supplement and accompanying prospectus.

You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, you may request the prospectus by calling Goldman Sachs & Co. LLC at 1-866-471-2526 or BofA Securities, Inc. at 1-800-294-1322.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Assured Guaranty Ltd. is a publicly traded (NYSE: AGO), Bermuda-based holding company. Assured Guaranty provides credit enhancement products to the U.S. and international public finance, infrastructure and structured finance markets. Assured Guaranty also participates in the asset management business through its ownership interest in Sound Point Capital Management, LP. More information on Assured Guaranty Ltd. and its subsidiaries can be found at AssuredGuaranty.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230816755628/en/

Robert Tucker, 212-339-0861

Senior Managing Director, Investor Relations and Corporate Communications

rtucker@assuredguaranty.com

Ashweeta Durani, 212-408-6042

Vice President, Media Relations

adurani@assuredguaranty.com

Source: Assured Guaranty Ltd.

FAQ

What is the company name involved in the press release?

The company involved in the press release is Assured Guaranty Ltd.

What is the ticker symbol of Assured Guaranty Ltd.?

The ticker symbol of Assured Guaranty Ltd. is AGO.

What is the purpose of selling $350 million of Senior Notes?

The proceeds from the sale of the Senior Notes will be used to redeem $330 million of AGUS' 5.0% Senior Notes due 2024 and for general corporate purposes.

Who are the joint book-running managers for the offering?

The joint book-running managers for the offering are Goldman Sachs & Co. LLC and BofA Securities, Inc.

Who are the co-managers for the offering?

The co-managers for the offering are Loop Capital Markets LLC and KeyBanc Capital Markets Inc.

Where can I get the prospectus for the offering?

You can get the prospectus for the offering by visiting EDGAR on the SEC website at www.sec.gov or by calling Goldman Sachs & Co. LLC or BofA Securities, Inc.