Kingsway announces U.S. offering

Toronto-based Kingsway Financial Services (TSX, NYSE: KFS) says it will offer US$50 million in trust preferred securities in the U.S. Dividend rates for the securities have not yet been determined, the company notes, as the announcement is the start of the marketing campaign and sales have not yet begun. A registration statement has been made with the U.S. Securities Exchange Commission to offer the securities under the symbol “KFS PrA” on the New York exchange.The offering is made through a group of underwriters led by Advest Inc., and including Ferris, Baker Watts Incorporated, Keefe, Bruyette & Woods, Inc., Raymond James, Sandler O’Neill & Partners, L.P., Putnam Lovell NBF Securities Inc. and RBC Capital Markets.