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Global Indemnity Ltd., 7.75% Subordinated Notes due 8/15/2045
Ticker Symbol: GBLIZ* CUSIP: G3933F121 Previous CUSIP: G39319119 Exchange: NGS
* NOTE: This security is no longer trading as of 8/15/2020
Security has been Called for: Saturday, August 15, 2020
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July 15, 2020 -- GBLI Holdings, LLC, a Delaware limited liability company and a subsidiary of Global Indemnity Limited (Nasdaq: GBLI), today announced that it will redeem all of GBLI Holdings, LLC’s outstanding 7.75% Subordinated Notes due 2045 (CUSIP No. G3933F121) (the “Notes”) on August 15, 2020 (the “Redemption Date”). On the Redemption Date, GBLI Holdings, LLC will pay to the registered holders of the Notes a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not including, the Redemption Date. As of July 15, 2020, $100,000,000 aggregate principal amount of the Notes were outstanding. Nov. 07, 2016 -- Global Indemnity plc (NASDAQ:GBLI) announced today that it has completed its redomestication to change the ultimate holding company of the Global Indemnity group of companies from an entity incorporated in Ireland to an entity incorporated in the Cayman Islands. As previously announced, the name of the new holding company is Global Indemnity Limited.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Global Indemnity Ltd. 7.75% Subordinated Notes due 8/15/2045, formerly Global Indemnity plc, 7.75% Subordinated Notes due 2045, issued in $25 denominations, redeemable at the issuer's option on or after 8/15/2020 at $25 per note plus accrued and unpaid interest, and maturing 8/15/2045. Interest distributions of 7.75% per annum ($1.9375 per annum or $0.484375 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 resectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured subordinated obligations of the company and will rank equally with all existing and future unsecured subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GBLI)
IPO - 8/5/2015 - 4.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Previous Name: Global Indemnity plc, 7.75% Subordinated Notes due 8/15/2045 Changed: 11/04/2016
Market Value $98.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: 27 Hospital Road, George Town, Grand Cayman, KY1-9008, Cayman Islands |
| Main Phone Number |
610-664-1500 |
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