Specialty Insurer Global Indemnity Sells Baby Bonds
By: Tim McPartland,
Specialty insurance company Global Indemnity plc has sold a new $25 baby bond offering.
Details of the offering are here.
This issue has been trading on the NASDAQ for 3-4 days.
Global Indemnity is a smaller (but nicely profitable) specialty insurer. They currently have no other preferred or baby bond issues outstanding.
This issue has a little longer duration than we would like (maturity 2045), but has a fairly tasty coupon for those looking for a little higher yield.
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
