PMA Capital Corporation (NASDAQ:PMACA) reported yesterday that the underwriters have exercised their overallotment option in full and purchased an additional $7.5 million of PMA Capital's 8.50% monthly income senior notes due June 15, 2018. Together with the $50 million sold on June 5, 2003, this brings the total amount outstanding for these senior notes to $57.5 million.
PMA Capital intends to use the additional net proceeds of approximately $7.2 million to increase the capital and surplus of its insurance subsidiaries and for general corporate purposes. In total, PMA Capital raised approxi...
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