Kingsway Financial Services Inc. (KFS) Reports Major Debt Repurchase
Kingsway Financial Services Inc. announced the repurchase of significant amounts of two issues of its outstanding debt. The purchases amount to approximately $55.1 million. Kingsway Financial Services Inc. has repurchased $33.9 million CAD principal of the 6% debentures due on 7/11/2012, and $25.6 million of the 7.5% senior notes due in 2014. The debentures were issued by Kingsway 2007 General Partnership, and the senior notes were issued by Kingsway America Inc. Kingsway Financial Services Inc. obtained the funds to complete the repurchase through the sale of the Jevco Insurance Company, one of its subsidiaries. Kingsway Financial Services Inc. sold the…