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Global Indemnity Group, LLC 7.875% Subordinated Notes due 4/15/2047
Ticker Symbol: GBLL* CUSIP: G3933F139 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2022
Security has been Called for: Friday, April 15, 2022
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March 10, 2022 -- GBLI Holdings, LLC, a Delaware limited liability company and a subsidiary of Global Indemnity Group, LLC (NYSE:GBLI), today announced that it will redeem all of GBLI Holdings, LLC's outstanding 7.875% Subordinated Notes due 2047 (CUSIP No. 37959R202) (the "Notes") on April 15, 2022 (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 March 10, 2022, $130,000,000 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 Group, LLC., formerly Global Indemnity Ltd. 7.875% Subordinated Notes due 4/15/2047, issued in $25 denominations, redeemable at the issuer's option on or after 4/15/2022, or on any interest payment date thereafter, at $25 per note plus accrued and unpaid interest, and maturing 4/15/2047. Interest distributions of 7.875% per annum ($1.96875 per annum or $0.4921875 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 1/1, 4/1, 7/1 & 10/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). If the Issuer redeems only a portion of the Notes on any date of redemption, the Issuer may subsequently redeem additional Notes. 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. This security was not rated by Moody’s or S&P at the time of its IPO. 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. 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 - 3/16/2017 - 4.80 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: GBLIL
Previous Name: Global Indemnity Ltd Changed: 8/27/2020
Market Value $119.0 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 |
| Address and Phone Numbers |
| Address: Three Bala Plaza East, Suite 300, Bala Cynwyd, PA 19004 |
| Main Phone Number |
610-664-1500 |
| Fax Number |
Not Available |
| Investor Relations
Stephen W. Ries
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610-668-3270
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| CEO - David S. Charlton |
CFO - Thomas M. McGeehan |
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