BMS Capital Advisory (BMS CA) announced it has completed a $45 million private placement of surplus notes issued by Brotherhood Mutual Insurance Company (Brotherhood) to funds managed by Dekania Capital Management, an indirect investment advisory subsidiary of Cohen & Company (NYSE American: COHN), with a specialist practice providing debt capital to small and mid-sized mutuals and insurers.
The notes carry a fixed rate of 6.00% with a 20-year term. The proceeds of the offering will primarily be used by Brotherhood for general corporate purposes and to support the company’s growth, the company said. BMS CA acted as an exclusive financial advisor and placement agent to Brotherhood.
Based in Fort Wayne, Indiana, Brotherhood provides insurance products, risk management resources, and payroll services specifically designed for churches, ministries, schools, and colleges.
Source: BMS Capital Advisory
Was this article valuable?
Here are more articles you may enjoy.
USI Sues 3 Former Producers After They Allegedly Moved Clients to Howden US 
Londoners Find ‘Horrendous’ Cracks in Their Homes After Successive Heat Waves 
Highest-Ever Ocean Temperature Measured as Super El Niño Forms 
Trump’s Environmental Rollbacks Are Being Struck Down by Courts 
