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.
Frequently Asked Questions
The Hartford announced its decision to redeem its 7.875% Fixed-to-Floating Rate Junior Subordinated Debentures due April 15, 2042, in full.
The total aggregate principal amount of the debentures being redeemed is $600,000,000.
The redemption is scheduled to occur on April 15, 2022.
The debentures will be redeemed at a price equal to 100% of their principal amount, plus any accrued and unpaid interest up to, but excluding, April 15, 2022.