American Financial Group, Inc. Announces the Pricing of $125 Million Aggregate Principal Amount of Subordinated Debentures Due 2059
The offering is expected to close on
The net proceeds of the offering will be used for general corporate purposes.
This offering is being made pursuant to an effective shelf registration
statement previously filed with the
Merrill Lynch, Pierce, Fenner & Smith Incorporated , at NC1-004-03-43,200 North College Street , 3rd Floor,Charlotte, NC 28255-0001, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.com;Wells Fargo Securities, LLC , at 608 2nd Avenue, Suite 1000,South Minneapolis, Minnesota 55402, Attention: WFS Customer Service, toll-free number: 1-800-645-3751 or email: wfscustomerservice@wellsfargo.com.
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This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale in any jurisdiction where such offer, solicitation or sale is not permitted.
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Forward Looking Statements
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this press release not dealing with historical results are forward-looking and are based on estimates, assumptions and projections. Examples of such forward-looking statements include statements relating to: the Company's expectations concerning market and other conditions and their effect on future premiums, revenues, earnings, investment activities and the amount and timing of share repurchases; recoverability of asset values; expected losses and the adequacy of reserves for asbestos, environmental pollution and mass tort claims; rate changes; and improved loss experience.
Actual results and/or financial condition could differ materially from
those contained in or implied by such forward-looking statements for a
variety of reasons including, but not limited to: changes in financial,
political and economic conditions, including changes in interest and
inflation rates, currency fluctuations and extended economic recessions
or expansions in the U.S. and/or abroad; performance of securities
markets, including the cost of equity index options; new legislation or
declines in credit quality or credit ratings that could have a material
impact on the valuation of securities in AFG’s investment portfolio; the
availability of capital; changes in insurance law or regulation,
including changes in statutory accounting rules and changes in
regulation of the Lloyd’s market, including modifications to the
establishment of capital requirements for and approval of business plans
for syndicate participation; changes in the legal environment affecting
AFG or its customers; tax law and accounting changes, including the
impact of recent changes in U.S. corporate tax law; levels of natural
catastrophes and severe weather, terrorist activities (including any
nuclear, biological, chemical or radiological events), incidents of war
or losses resulting from civil unrest and other major losses; disruption
caused by cyber-attacks or other technology breaches or failures by AFG
or its business partners and service providers, which could negatively
impact AFG’s business and/or expose AFG to litigation; development of
insurance loss reserves and establishment of other reserves,
particularly with respect to amounts associated with asbestos and
environmental claims; availability of reinsurance and ability of
reinsurers to pay their obligations; trends in persistency and
mortality; competitive pressures; the ability to obtain adequate rates
and policy terms; changes in AFG’s credit ratings or the financial
strength ratings assigned by major ratings agencies to AFG’s operating
subsidiaries; the impact of the conditions in the international
financial markets and the global economy relating to AFG’s international
operations; and other factors identified in AFG’s filings with the
The forward-looking statements herein are made only as of the date of this press release. The Company assumes no obligation to publicly update any forward-looking statements.
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Source:
Diane P. Weidner, IRC
Assistant Vice President – Investor Relations
(513)
369-5713