Nassau Financial Group announced today that its revolving credit facility, arranged by RBC Capital Markets, has been increased to $120 million after the original $100 million target for the facility was oversubscribed. The facility will provide Nassau with additional financial flexibility as the company continues to execute on growth plans across its insurance and asset management businesses.
Nassau Financial Group has named Thomas A. Williams Interim Chief Financial Officer while the company searches for a permanent replacement for Diana Piquette, who passed away on July 18, 2022.
Tom served as Nassau’s Chief Financial Officer from 2016 until his retirement in 2020. He has continued to serve on Nassau’s insurance company board.
“Tom is intimately familiar with the role and with our business, so I greatly appreciate his willingness to step in to serve our company at this difficult time,” said Phil Gass, Chairman and Chief Executive Officer.
Nassau Financial Group mourns the loss of Diana Piquette, our Chief Financial Officer, who passed away on July 18, 2022.
“Diana played a key role in driving Nassau’s success over the past several years, with her brilliant mind, strong work ethic, and talent for managing complex initiatives. Above all, Diana was a trusted advisor and good friend to her colleagues across the company,” said Phil Gass, Chairman and Chief Executive Officer.
“We extend our heartfelt condolences to Diana’s family during this difficult time,” he said.
HARTFORD, Conn.—The Nassau Companies of New York (the “Company”) announced today the commencement of cash tender offers (the “Tender Offers”) for (i) up to an aggregate principal amount of its 7.45% Quarterly Interest Bonds due 2032 and (ii) up to an aggregate principal amount of the 7.15% Surplus Notes due 2034 issued by Nassau Life Insurance Company, a wholly-owned subsidiary of the Company (collectively, the “Notes”), such that the aggregate consideration paid by the Company in respect of each series does not exceed the designated “Maximum Series Tender Cap” as set forth in the table below.
Nassau Financial Group announced today that it has closed on a revolving credit facility of $100 million, arranged by RBC Capital Markets. The facility will provide Nassau with additional financial flexibility as the company continues to execute on growth plans across its insurance and asset management businesses.
About Nassau Financial Group
Based in Hartford, CT, Nassau Financial Group (NFG) is a growth focused and digitally enabled financial services company with three distinct and closely connected businesses: