HAMILTON, Bermuda, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. (“Syncora” or the “Company”) today announced that the New York State Department of Financial Services has approved payment on the Syncora Guarantee Inc. (“SGI”) Long-Term Surplus Notes (the “Long-Term Surplus Notes”) and Short-Term Surplus Notes (“Short-Term Surplus Notes” and, together with the Long-Term Surplus Notes, the “Surplus Notes”) held by third-party holders in the amounts set forth below:
| Accrued and Unpaid Interest | Principal | Total | ||||
| Total Payment to Long-Term Surplus Notes held by Third Parties | $21,735,972 | $0 | $21,735,972 | |||
| Total Payment to Short-Term Surplus Notes held by Third Parties | $1,606,493 | $4,157,535 | $5,764,028 | |||
| Total | $23,342,465 | $4,157,535 | $27,500,000 | |||
As required by the terms of the Surplus Notes, the Company has provided notice that the Record Date for such payment has been set as December 18, 2017, and further notice that the Payment Date with respect to the payment set forth above is December 28, 2017.
About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC:SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. is a wholly-owned subsidiary of Syncora Holdings Ltd. For additional information, please visit www.syncora.com.
Contacts
Scott Beinhacker
Syncora Holdings Ltd.
(212)478-3400
investorrelations@scafg.com
Important Information and Forward Looking Statements
This press release contains statements about future results, plans and events that may constitute "forward-looking" statements. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's and Syncora Guarantee Inc.'s GAAP and statutory financial statements, as applicable, posted on its website at www.syncora.com. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made.