Willkie advised the underwriters in the transaction.
Willkie recently represented BofA Securities, Morgan Stanley, UBS Investment Bank, J.P. Morgan and other underwriters in connection with Argo Group International Holdings, Ltd.’s issuance of $150 million depositary shares each representing a 1/1,000th interest in a share of its 7.00% Resettable Fixed Rate Preference Shares, Series A.
Argo intends to use the net proceeds from the offering to repay its term loan, which has $125 million principal remaining outstanding, and for working capital to support continued growth in Argo’s insurance operations.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an underwriter of specialty insurance and reinsurance products in the property and casualty market.
The offering was led by Michael Groll and Matthew Stern and included David Griffiths and Casey Kelly, with additional assistance from Elizabeth Gray.