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October 10, 2012
08:15 EDTHRGHarbinger's insurance sub FGL executes $295M reserve credit facility
Harbinger Group announced the closing of a $295M reserve credit facility between Nomura Bank International and HGI's primary insurance company, Fidelity & Guaranty Life, or FGL. The facility replaces a seller-provided facility put in place under the stock purchase agreement entered into between a subsidiary of HGI and Old Mutual plc for the acquisition of FGL. Under the terms of the reserve credit facility agreement, Nomura will provide Raven Re, a wholly-owned subsidiary of FGL, with a five-year facility at a lower financing cost to recapture business that was previously ceded to Old Mutual Reassurance Ireland Ltd. Under the terms of the stock purchase agreement between HGI and Old Mutual, HGI was required to recapture this ceded business by Dec. 31, 2015.
News For HRG From The Last 14 Days
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November 26, 2014
09:22 EDTHRGLeucadia raises stake in Harbinger Group to 23.2%
Leucadia (LUK) disclosed in a filing that on November 25 the company entered into a Stock Purchase Agreement with Harbinger Capital Partners and Harbinger Capital Partners II pursuant to which Leucadia will purchase from the sellers or investment funds managed by the sellers an aggregate of 5M shares of Harbinger Group (HRG) common stock at a price of $12.90 per share, excluding a 7.5c per share commission to be received by Leucadia’s brokerage subsidiary.
November 25, 2014
15:39 EDTHRGLeucadia stake in Harbinger up to 22%, Bloomberg says
Harbinger Group's (HRG) largest shareholder Leucadia (LUK), has increased its stake in the firm by an additional 5M shares, says Bloomberg, citing a person with knowledge of the matter. The most recent share purchase increases Leucadia's stake in Harbinger Group to approximately 22%, added Bloomberg. Reference Link
09:32 EDTHRGHarbinger Group chairman, CEO Falcone to resign
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November 21, 2014
08:33 EDTHRGHarbinger Group reports Q4 EPS (3c) vs. ($1.45) last year
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