logo
Share SHARE
FONT-SIZE Plus   Neg

Amerigroup Prices $75 Mln Of 7.50% Senior Notes - Quick Facts

Amerigroup Corp. (AGP) announced the pricing of $75 million in aggregate principal amount of its 7.50% Senior Notes due 2019, at an issue price of 103.75%, plus accrued interest from November 16, 2011 to the anticipated settlement date. Goldman, Sachs & Co. is the sole underwriter for the offering.

The Notes are additional notes under the indenture, dated as of November 16, 2011, as supplemented by the first supplemental indenture, dated as of November 16, 2011, between Amerigroup and The Bank of New York Mellon Trust Company, N.A., as trustee, pursuant to which Amerigroup issued $400 million in aggregate principal amount of its 7.50% Senior Notes due 2019 on November 16, 2011.

The company stated that the Notes will be treated as a single series with, and will have the same terms as, the Prior Notes and will be fully fungible with the Prior Notes. The Notes mature on November 15, 2019. The Notes will bear interest at a rate of 7.5% annually payable on May 15 and November 15 of each year, beginning on May 15, 2012.

The offering is expected to close on or about January 18, 2012, subject to customary closing conditions.

Amerigroup estimates the net proceeds from the issuance and sale of the Notes, after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $76.6 million excluding accrued interest.

Amerigroup said that it intends to use the net proceeds from this offering for general corporate purposes, including acquisitions and/or business development opportunities which may include the funding of statutory capital commensurate with growth.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Samsung Electronics has launched network unlocked versions of the Galaxy S7 and S7 Edge in the U.S., giving customers the freedom to choose their plans, switch carriers and avoid pre-installed carrier apps. Starting today, the unlocked phones will work on most U.S. GSM and CDMA networks. Online retail giant Amazon.com Inc.'s second annual Prime Day shopping event will take place on Tuesday, July 12, and will become the biggest Amazon sales event ever. It will feature more than 100,000 deals worldwide exclusively for Prime members this year. ConAgra Foods Inc. (CAG) reported a net income attributable to the company for the fourth quarter ended May 29, 2016 that declined 43.8 percent from last year. Adjusted earnings per share from continuing operations decreased 5% from the prior year. The comparable earnings per share decline reflected...
comments powered by Disqus
Follow RTT