Investment-blog.net: Stocks, Emerging markets, Bonds, Currencies and Commodities

NEW YORK, March 6 (Reuters) - Ambac Financial Group Inc (ABK) sold $1.5 billion of securities on Thursday, a market source said.

The sale included $1.25 billion of common shares, which were priced at $6.75 a share, the source said. That level is 9 percent below Ambac’s closing price on Thursday of $7.42.

Ambac also sold $250 million of mandatory convertible securities, at a dividend of 9.5 percent and a conversion premium of 18 percent, the source said. (Reporting by Dan Wilchins; Editing by Gary Hill)

Did you like this? If so, please bookmark it,

about it, and subscribe to the blog RSS feed.

Possibly Related Posts:

• Prosecutors File Brief In Support Of Revoking Madoff Bail
• Facts About Refund Anticipation Loans
• List Of Entities Announcing Exposure To Madoff Investments-2-
• Current functions of the Federal Reserve System include:
• GECC Offers $4B Of Non-Govt-Backed Debt As Market Heals

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.