Argo Group's US operation has priced a $125mn offering of five-year debt at a 6.5 percent coupon, the company announced.
Argo has granted underwriters of the offer an option to purchase up to an extra $18.75mn in notes should there be extra demand.
The New York-listed (re)insurer says it will use the proceeds to repurchase outstanding securities, but added that the capital may also be used for general corporate purposes.
Bank of America Merrill Lynch and Wells Fargo Securities acted...
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