RAM Holdings Ltd. announced the repurchase of $25.0 million of its 6.875% senior notes due 2024 for $14.3 million, realizing a gain of $10.7 million.
The Senior Notes that were repurchased were cancelled immediately after such repurchase. Following the settlement of the repurchase, none of the Senior Notes remain outstanding.
RAM Holdings Ltd. is a Bermuda-based holding company. Its operating subsidiary, RAM Reinsurance Company Ltd., provides financial guaranty reinsurance for U.S. and international public finance and structured finance transactions.
