Old Republic Prices $400 Million 5.750% Senior Notes Due 2034
Old Republic International priced a registered public offering of $400 million in 5.750% senior notes maturing March 28, 2034, under an underwriting agreement with Morgan Stanley and PNC Capital Markets. The notes add $400 million of direct debt to the company's obligations, with interest paid semi-annually starting September 28, 2024.
- Aggregate principal amount of $400,000,000 at a 5.750% fixed interest rate
- Notes mature March 28, 2034, and are redeemable before December 28, 2033 at the greater of par or a Treasury-based make-whole price
- Issued under an indenture with Wilmington Trust Company as trustee; default acceleration possible at 25% holder request