Ardonagh moves forward with $500m notes offering
Ardonagh has placed $500m (£401m) of senior payment in kind toggle notes.
Under the terms of the bond the cash interest rate is 11.5% while the PIK rate is 12.75%.
The notes, priced at an issue price of 99%, run until 2027 and are expected to be issued on 14 July.
They
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