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Security Details
- Coupon Rate
- 9.00%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 9/30/2002
- Maturity Date
- 9/30/2027
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 2.25
- Distribution Dates
- 3/31, 6/30, 9/30 & 12/31
- Credit Ratings
- Moody's C · S&P CC (10/26/2003)
- Tax-Advantaged Dividends
- No
Security Profile
Security's distribution is suspended.
- CUSIP
- 001338201
- Market Cap
- Micro Cap · $56 Million
- IPO
- 7/30/1997 · $25.00/share
- Previous Symbol
- AIF-T (changed 11/20/2002)
- Parent Company
- Acceptance Insurance Cos., Inc. (AICIQ)
Business: AICI Capital Trust, 9.00% Preferred Securities, liquidation amount $25 per share, guaranteed by Acceptance Insurance Companies, Inc. (NYSE: AIF), redeemable at the issuer's option on or after 9/30/2002 at $25 per share plus accrued and unpaid dividends, maturing 9/30/2027, distributions of 9.00% ($2.25) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on 3/15, 6/15, 9/15 & 12/15 respectively. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 9% Junior Subordinated Deferrable Interest Debentures due 9/30/2027 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: WARNING: This company is in bankruptcy. ____________ 11/18/02 Acceptance Insurance Companies, Inc. said they would defer interest payments on the Preferred Securities issued by AICI Capital Trust until not later than September 30, 2007 in accordance with the August 4, 1997 Indenture for its Junior Subordinate Debentures.
Company Contact
- CEO
- John E. Martin
- CFO
- Dwayne Hallman
- Headquarters
- 222 South 15th Street, Suite 600 North, Omaha, NE 68102
- Phone
- 402-344-8800 · Toll-Free 800-228-7217
- Fax
- 402-345-9190
- Investor Relations
- John E. Martin · 800-999-7475 · info@amag.com