PreferredStockChannel
Maiden Holdings Ltd | 8.25% Non-Cumulative Preference Shares, Series A (MH.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  Maiden Holdings, Ltd. is offering 6,000,000 shares of its 8.25% Non-Cumulative Preference Shares, Series A, $25 liquidation preference per share (the ÙSeries A Preference Sharesˆ).

Holders of Series A Preference Shares will be entitled to receive dividend payments only when, as and if declared by our Board of Directors or a duly authorized committee of the Board. Any such dividends will be payable from, and including, the date of original issue on a non-cumulative basis, quarterly in arrears on the 15th day of March, June, September and December of each year (each, a Ùdividend payment dateˆ), commencing on December 15, 2012, at an annual rate of 8.25%.

Dividends on the Series A Preference Shares are not cumulative. Accordingly, in the event dividends are not declared on the Series A Preference Shares for payment on any dividend payment date, then those dividends will not accumulate and will not be payable. If we have not declared a dividend before the dividend payment date for any dividend period, we will have no obligation to pay dividends for that dividend period, whether or not dividends on the Series A Preference Shares are declared for any future dividend period.

So long as any Series A Preference Shares remain outstanding, no dividend shall be paid or declared on our common shares or any of our other securities ranking junior to the Series A Preference Shares (other than a dividend payable solely in common shares or in such other junior securities), unless the full dividends for the latest completed dividend period on all outstanding Series A Preference Shares and any parity shares have been declared and paid or provided for.

Except in specified circumstances relating to certain tax or corporate events, the Series A Preference Shares are not redeemable prior to August 29, 2017. On and after that date, the Series A Preference Shares will be redeemable at our option, in whole or in part, at a redemption price of $25 per Series A Preference Share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends to, but excluding, the redemption date. See ÙDescription of the Series A Preference Shares ? Redemptionˆ and ÙDescription of the Series A Preference Shares ? Tax Redemptionˆ in this prospectus supplement. Our ability to redeem the Series A Preference Shares is subject to certain restrictions described under ÙDescription of the Series A Preference Shares ? Redemptionˆ in this prospectus supplement.

Full Prospectus PDF », Secondary Prospectus PDF », MHLD Page »

Series:A
Alternate symbology:MH-A, MH-PA, MHprA
Redeemable?:Yes
Call Date:8/29/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:6,000,000
Liquidation Preference:$25.00
Original Coupon:8.25%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn MH.PRA's Rating
Maiden Holdings is a holding company. Short-term income protection business is written on a primary basis by Co.'s subsidiaries Maiden Life Forsakrings AB and Maiden General Forsakrings AB in the Scandinavian and Northern European markets. Co.'s business consists of two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Co.'s Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located primarily in Europe. Co.'s AmTrust Reinsurance segment includes all business ceded to Maiden Reinsurance Ltd. by AmTrust Financial Services, Inc.

Preferreds: MH.PRA, MH.PRC, MH.PRD


Open the MHLD Information Page »
Name: 
Maiden Holdings Ltd
Website: 
www.maiden.bm
Sector: 
Insurance Brokers
Number of ETFs Holding MHLD: 
12 (see which ones)
Total Market Value Held by ETFs: 
$13,482,565
Total Market Capitalization: 
$195,000,000
% of Market Cap. Held by ETFs: 
6.91%

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