Kingsway announces U.S. private paper offering

Kingsway Financial Services Inc. (TSX: KFS) is planning a US$100 million private offering of senior debt notes through its wholly-owned subsidiary Kingsway America Inc. The offering will be made available to institutional buyers in the U.S.Kingsway says capital raised from the offering will primarily be used to repay existing debt of Kingsway America. The notes will be redeemable at Kingsway America’s option by or before the beginning of February 2009.