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Home / Top News / Oxford Lane Capital Corp. Prices Public Offering of $87.0 Million 6.75% Notes Due 2031 and Announces BBB Investment Grade Rating of the Notes by Egan-Jones Ratings Company
Oxford Lane Capital Corp. Prices Public Offering of $87.0 Million 6.75% Notes Due 2031 and Announces BBB Investment Grade Rating of the Notes by Egan-Jones Ratings Company
GREENWICH, Conn., March 09, 2021 (GLOBE NEWSWIRE) Oxford Lane Capital Corp. (the “Company”) (Nasdaq GS: OXLC, OXLCO, OXLCM, OXLCP) today announced that it has priced an underwritten public offering of $87.0 million in aggregate principal amount of 6.75% unsecured notes due 2031. The notes will mature on March 31, 2031, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after March 16, 2024. The notes will bear interest at a rate of 6.75% per year payable quarterly on March 31, June 30, September 30, and December 31 of each year, commencing June 30, 2021.
Farmers Insurance Returning to Louisiana March 10, 2021
Louisiana insurance regulators have approved rate and form filings for Farmers Insurance in advance of California-based insurer’s re-entry into the Louisiana market.
The Louisiana Department of Insurance reported that Farmers is returning to the Louisiana market in March with auto, homeowners, condo and renters insurance.
Farmers began selling homeowners policies in Louisiana in 1999. Its market share in Louisiana peaked in 2007 when it became the seventh largest homeowners insurer in the state with 4.1% of the state’s policies and $56.2 million in direct written premium. But the insurance group began shedding policies in the difficult market after Hurricane Katrina and exited in 2014, leaving only a subsidiary, Foremost Insurance Co., doing residential property business in Louisiana.
Photo by Irfan Khan/Los Angeles Times via Getty Images
The pandemic and the presidential election dominated the news in 2020, but natural disasters also loomed large across the U.S. There were 22 extreme weather events last year, according to the National Oceanic and Atmospheric Administration, including the wildfires that spread across California, the tropical storms and hurricanes that pummeled the Atlantic coast, and a handful of tornadoes. Those disasters left more than $95 billion in damages in their wake, with homeowners and businesses large and small bearing the brunt of the costs.
Many homeowners have misconceptions about what their home insurance policy will cover, leaving them with unexpected expenses when disaster strikes. For example, when Policygenius.com, an insurance comparison website, surveyed homeowners last year, more than 53% of them said they believed that flood damage is covered by a standard homeowners insurance policy. (It’s not.) The survey also found tha
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