Kingsway America to reopen securities offering

The U.S. arm of Kingsway Financial Services Inc., Kingsway America, will reopen an offering of senior notes valued at US$25 million. The 7.5% notes are due 2014 and are guaranteed by the parent company.This is from the same series of notes offered by the company back in late January, when US$100 million worth were issued. Price to investors is 100.663% of the notes’ face value, with interest accruing from January 18, 2004.Kingsway can have the notes redeemed from February 1, 2009 onward.Proceeds from the offering will go to pay short-term bank debts, Kingsway America says.