Primus Guaranty Announces Increase in Securities Buyback Authorization
October 28 2011 - 9:00AM
Business Wire
Primus Guaranty, Ltd. (the “Company”) (NYSE:PRS) announced today
that its Board of Directors has approved an increase of $25 million
in its buyback authorization to repurchase outstanding common
shares and 7% Senior Notes due 2036 (“Senior Notes”) from time to
time in the open market or in privately negotiated transactions at
prices and upon terms approved by management. The authorization
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.
About Primus Guaranty
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.
Forward-Looking Statements
Some of the statements included in this press release and other
statements Primus Guaranty may make, particularly those
anticipating future financial performance, business prospects,
growth and operating strategies, market performance, valuations and
similar matters, are forward-looking statements that involve a
number of assumptions, risks and uncertainties, which change over
time. Any such statements speak only as of the date they are made,
and Primus Guaranty assumes no duty to, and does not undertake to,
update any forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements,
and future results could differ materially from historical
performance. For a discussion of the factors that could affect the
Company's actual results please refer to the risk factors
identified from time to time in the Company's SEC reports,
including, but not limited to, Primus Guaranty's Annual Report on
Form 10-K, as filed with the U.S. Securities and Exchange
Commission.
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