NU Online News Service, Nov. 19, 9:19 a.m. – Scottish Annuity & Life Holdings Ltd., Hamilton, Bermuda, a reinsurer, has set an interest rate of 4.5% on $100 million in convertible notes that will be offered to institutional investors.
The notes are due Dec. 1, 2022. Under certain conditions, holders can try to convert the notes into common stock at a price of $21.71 per share, but Scottish Annuity can give the holders cash rather than stock.