Ambac Financial Group, Inc. Announces Redemption of 7.00% Debentures Due October 17, 2051
25 Settembre 2006 - 5:25PM
Business Wire
Ambac Financial Group, Inc. (NYSE:ABK) (Ambac) announced today that
it will redeem all of its outstanding $200 million 7.00% debentures
(NYSE Listing AFK, CUSIP No. 023139405), on October 23, 2006 (the
"Redemption Date") at par ($25 per debenture) plus accrued interest
to the Redemption Date. The Bank of New York shall act as the
Paying Agent. Redemption payments will be made upon the
presentation and surrender of the notes to the Paying Agent by mail
at The Bank of New York, Corporate Trust Operations, P.O. Box 396,
East Syracuse, New York, 13057 or by hand or overnight delivery at
The Bank of New York, Corporate Trust Operations, 111 Sanders Creek
Parkway, East Syracuse, New York, 13057. The debentures will be
redeemed using portions of the proceeds from Ambac�s $400 million
issuance of 5.95% debentures in December 2005. On the Redemption
Date, Ambac will write-off fees and expenses related to the
original issuance of the 7.00% debentures of approximately $6.0
million ($3.9 million after-tax). Ambac Financial Group, Inc.,
headquartered in New York City, is a holding company whose
affiliates provide financial guarantees and financial services to
clients in both the public and private sectors around the world.
Ambac�s principal operating subsidiary, Ambac Assurance
Corporation, a leading guarantor of public finance and structured
finance obligations, has earned triple-A ratings, the highest
ratings available from Moody�s Investors Service, Inc., Standard
& Poor�s Ratings Services, Fitch, Inc. and Rating and
Investment Information, Inc. Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol ABK).
Ambac Financial Group, Inc. (NYSE:ABK) (Ambac) announced today that
it will redeem all of its outstanding $200 million 7.00% debentures
(NYSE Listing AFK, CUSIP No. 023139405), on October 23, 2006 (the
"Redemption Date") at par ($25 per debenture) plus accrued interest
to the Redemption Date. The Bank of New York shall act as the
Paying Agent. Redemption payments will be made upon the
presentation and surrender of the notes to the Paying Agent by mail
at The Bank of New York, Corporate Trust Operations, P.O. Box 396,
East Syracuse, New York, 13057 or by hand or overnight delivery at
The Bank of New York, Corporate Trust Operations, 111 Sanders Creek
Parkway, East Syracuse, New York, 13057. The debentures will be
redeemed using portions of the proceeds from Ambac's $400 million
issuance of 5.95% debentures in December 2005. On the Redemption
Date, Ambac will write-off fees and expenses related to the
original issuance of the 7.00% debentures of approximately $6.0
million ($3.9 million after-tax). Ambac Financial Group, Inc.,
headquartered in New York City, is a holding company whose
affiliates provide financial guarantees and financial services to
clients in both the public and private sectors around the world.
Ambac's principal operating subsidiary, Ambac Assurance
Corporation, a leading guarantor of public finance and structured
finance obligations, has earned triple-A ratings, the highest
ratings available from Moody's Investors Service, Inc., Standard
& Poor's Ratings Services, Fitch, Inc. and Rating and
Investment Information, Inc. Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol ABK).
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