NEW YORK, NY – Stonybrook Capital & Risk Management (“Stonybrook”) is pleased to announce that Iowa-based United Fire Group, Inc (the “Company” or “UFG”) (NASDAQ: UFCS), a property and casualty insurance carrier has completed a placement of $70 million aggregate principal senior unsecured 9.0% notes due May 31, 2039 in a private offering with Ares Management Credit funds as the lead investor. Proceeds from the Offering will be used to support anticipated growth and for general corporate purposes.
Stonybrook Capital, LLC served as the Company’s Exclusive Financial Advisor in connection with the debt issuance.
Kevin Leidwinger, CEO, UFG, commented:
“We are pleased with the successful execution of this capital raise. We appreciate the investment community’s support of our long-term strategies intended to deliver sustainable profitable growth.”
Adam Clay, Partner, Stonybrook, commented:
“Our firm is proud to announce the closing of this important transaction, together with the highly talented team at UFG. We continue to deepen our relationship with the Company and look forward to supporting them on additional capital markets projects in the future.”
Please see a case study of the transaction here
About Stonybrook Capital & Risk Management
Stonybrook Capital is a global investment banking and reinsurance broking firm, headquartered in New York City, that focuses exclusively on the insurance and reinsurance industry. Founded in 2012 and was ranked #2 behind Goldman Sachs in the S&P advisory league tables for 2022.
Corporate Contact:
Kendel Bell
[email protected]
Securities transactions are executed through Weild & Co., member FINRA | SIPC