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Ambac Announces Debt for Equity Exchange Transactions |
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| 2010/6/18 |
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that it has entered into a series of debt for equity exchanges with certain holders of Ambac’s 9⅜% debentures, due August 2011. Under the terms of the exchange agreements, the Company issued, or will issue, 5,036,068 shares of Ambac’s common stock in exchange for $8.5 million in aggregate principal amount of debt to the bondholders. Following the issuance of the shares there will be 293,420,336 common shares outstanding.
About Ambac
Ambac Financial Group, Inc., headquartered in New York City, is a holding company whose affiliates provided 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 guarantor of public finance and structured finance obligations, has a Caa2 rating under review for possible upgrade from Moody's Investors Service, Inc. and an R (regulatory intervention) financial strength rating from Standard & Poor's Ratings Services. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).
News Source: Business Wire
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| Contacts |
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Contact : Peter Poillon
Company : Ambac Financial Group, Inc.
Country : United States
Telephone : 212-208-3222
Email : ppoillon@ambac.com
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AGRI WEEK TOKYO 2023
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