United Fire Group sells $70 million of 9% senior notes due 2039 to Ares-led investors
United Fire Group completed a $70 million private placement of senior unsecured notes on May 31, 2024, with Ares Management, LLC as lead investor. The notes carry a 9% annual interest rate, pay interest quarterly starting August 31, 2024, and mature on May 31, 2039, adding a long-term fixed debt obligation for shareholders to consider. The company said the proceeds will go to its insurance subsidiaries to fund anticipated growth and for general corporate purposes.
Key points
- $70 million aggregate principal of senior unsecured notes at 9% annual interest, due May 31, 2039
- Interest payable quarterly in arrears, beginning August 31, 2024
- Company may not redeem the notes before May 31, 2034, except upon a change in control or acceleration after an event of default
- Proceeds to be contributed to insurance subsidiaries for anticipated growth and general corporate purposes
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 06, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.