Ambac Financial Group Inc., 5.95% Debentures due 2/28/2103 (AKF*)
NYSE · · CUSIP 023139504
This security is no longer trading as of 5/1/2013.
The reference information below — security type, terms, ratings and company profile — is retained for research. Current pricing is not available.
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Security Details

Coupon Rate
5.95%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
2/28/2008
Maturity Date
2/28/2103
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
1.4875
Distribution Dates
3/31, 6/30, 9/30 & 12/31
Credit Ratings
Moody's WR · S&P NF (4/1/2019)
Tax-Advantaged Dividends
No

Security Profile

Security's distribution is suspended.
Security Type
Exchange-Traded Debt Security »
CUSIP
023139504
Market Cap
Small Cap · $200 Million
IPO
2/27/2003 · $25.00/share
Parent Company
Ambac Financial Group Inc. (AMBC)
Business: Ambac Financial Group Inc., 5.95% Debentures due 2/28/2103, issued in $25 denominations, redeemable at the issuer's option on or after 2/28/2008 at $25 per share plus accrued and unpaid interest, and maturing 2/28/2103. Distributions of 5.95% ($1.4875) 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 (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The debentures are senior debt securities of the company and will rank equally with all existing and future unsecured senior indebtedness of the company. See the IPO prospectus for further information on the debentures by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: May 1, 2013 -- The following debt securities of the Company were extinguished and are of no further force or effect, except to continue in effect solely for the purposes of allowing the holders thereof to receive distributions provided under the Plan and related matters: (i) 5.875% debentures due on March 24, 2103; (ii) 5.95% debentures due on December 5, 2035; (iii) 5.95% debentures due on February 28, 2103; (iv) 7-1/2% debentures due on May 1, 2023; (v) 9-3/8% debentures due on August 1, 2011; (vi) 9.50% senior notes due on February 15, 2021; and (vii) the 6.15% Directly-Issued Subordinated Capital Securities due February 15, 2087. The Indentures related to the foregoing debt securities were correspondingly extinguished. __________ November 08, 2010 -- Ambac Financial Group, Inc. (NYSE: ABK) announced today that it has filed for a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The Company will continue to operate in the ordinary course of business as "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.

Company Contact

CEO
David W. Wallis
CFO
Sean T. Leonard
Headquarters
One State Street Plaza, New York, NY 10004
Phone
212-668-0340 · Toll-Free 800-221-1854
Fax
212-208-3108
Investor Relations
Peter R. Poillon · 212-208-3222 · ppoillon@ambac.com
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