Trean Insurance Group Increases Surplus with $50 Million Surplus Notes Offering
“We are pleased to further increase the Benchmark surplus with this offering,” said
The surplus notes are unsecured, subordinated debt obligations of Benchmark and are planned to be treated as additional surplus. All payments of interest on or principal of the surplus notes, and any redemption payment, may be made only with the prior approval of the Commissioner of Insurance of the State of Kansas.
The surplus notes were offered and sold in a private offering exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”) solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act. The surplus notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any surplus notes, nor shall there be any sales of the surplus notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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Source: Trean Insurance Group, Inc.