Summary
The Hartford Financial Services Group, Inc. (HIG) announced on March 14, 2022, its intention to redeem its 7.875% Fixed-to-Floating Rate Junior Subordinated Debentures due April 15, 2042. This redemption involves the entire $600,000,000 aggregate principal amount of these debentures, scheduled for April 15, 2022. This action signals a move by the company to manage its debt obligations, potentially indicating confidence in its financial position or a strategic shift in its capital structure.
Key Highlights
- 1The Hartford Financial Services Group, Inc. (HIG) will redeem all outstanding 7.875% Junior Subordinated Debentures.
- 2The aggregate principal amount to be redeemed is $600,000,000.
- 3The redemption date is set for April 15, 2022.
- 4The debentures are being redeemed at 100% of their principal amount.
- 5Accrued and unpaid interest up to the redemption date will also be paid.
- 6This action is executed under the terms of the Junior Subordinated Indenture dated June 6, 2008, and its Third Supplemental Indenture dated April 5, 2012.