Hci group continues to strengthen balance sheet

Tampa, fla., march 07, 2022 (globe newswire) -- hci group, inc. (nyse:hci) announced today that conversions to common stock have reduced the principal balance of its outstanding 4.25% convertible senior notes to approximately $24 million from $139 million a year ago. under the note indenture, the remaining noteholders had the option to require the company to purchase their notes on march 1, 2022. that option expired on february 28 without any holders having exercised. holders of the $24 million of notes will again have the option to require purchase of their notes on march 1, 2027 and march 1, 2032.
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