United Insurance to redeem $30 million floating-rate notes due 2026

By Sarah Lizee

Olympia, Wash., Dec. 7 – United Insurance Holdings Corp. plans to redeem its $30 million floating-rate senior notes due Dec. 5, 2026 using proceeds from a new offering of notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

As of Sept. 30, the floating-rate notes bore interest at a rate of 7.26%.

The notes were originally issued in December 2016.

Proceeds from the issuance will also be used for general corporate purposes.

United Insurance is a St. Petersburg, Fla., insurance provider.

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