Primus Increases Its Securities Buyback
Bermuda’s Primus Guaranty, Ltd. announced today [Oct. 28] that its board of directors has approved an increase of $25 million in its buyback authorisation to repurchase outstanding common shares and 7% Senior Notes due 2036 from time to time in the open market or in privately negotiated transactions at prices and upon terms approved by management.
The authorisation does not obligate the company to acquire any specific number of common shares or Senior Notes in any period, and may be modified, suspended or discontinued at any time without notice.
Listed on the New York Stock Exchange, Primus Guaranty, Ltd. is a Bermuda company with offices in New York. Through its subsidiary, Primus Financial Products, LLC, the company provides protection against the risk of default on primarily investment grade corporate and sovereign reference entities.
