Summary
Affiliated Managers Group, Inc. (AMG) filed an 8-K on February 8, 2008, to disclose a Supplemental Remarketing Agreement related to its 4.125% Senior Notes due February 17, 2010. These notes are part of AMG's Income PRIDES, originally issued in February 2004. The remarketing is scheduled to begin on February 13, 2008, and will settle on February 19, 2008, coinciding with the settlement of purchase contracts for the Income PRIDES. Crucially, AMG intends to submit a bid to the remarketing agent to acquire all of the remarketed Senior Notes at a price of 100.25% of their aggregate principal amount. This action suggests a proactive approach by AMG to manage its debt obligations and potentially reduce outstanding liabilities. Investors should note that these remarketed Senior Notes have not been registered under the Securities Act of 1933 and their offering is subject to registration or an applicable exemption.
Key Highlights
- 1AMG entered into a Supplemental Remarketing Agreement for its 4.125% Senior Notes due February 17, 2010.
- 2The Senior Notes are a component of AMG's Income PRIDES, originally issued in February 2004.
- 3Remarketing is scheduled to commence on February 13, 2008, and settle on February 19, 2008.
- 4AMG intends to bid to acquire all of the remarketed Senior Notes.
- 5AMG's intended acquisition price is 100.25% of the aggregate principal amount of the Senior Notes.
- 6The remarketed Senior Notes are not registered under the Securities Act of 1933.
- 7Offers and sales of the remarketed notes are subject to registration or exemption.