American Integrity
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Secondary market pricing implies the sponsor could recoup a total of $50mn on the 2022-1 A note. -
The $2.59bn renewal is up 45% from last year.
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The initial offering will include 6,875,000 shares of common stock.
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The Floridian company applied to be traded on the NYSE.
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The insurer has lined up Piper Sandler and KBW to run the process.
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The Integrity Re bond is structured into five tranches.
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The bond is structured into four tranches of notes.
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Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
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Pricing and sizing details were provided for the Class C notes.
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The notes were further marked down after a year-end Ian loss update.
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The issuer is seeking aggregate and per occurrence coverage.
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The bond is seeking coverage for Florida named storm.
