News
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May 06, 2009
Primus Guaranty Reports First Quarter 2009 Financial Results
Primus Guaranty, Ltd. (“Primus Guaranty” or “the Company”) (NYSE:PRS), a provider of credit protection, announced today GAAP net income of $106.8 million, or $2.61 per diluted share, for the first quarter of 2009, compared with a GAAP net loss of $(670.1) million, or $(14.85) per diluted share, for the first quarter of 2008.
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May 05, 2009
Primus Guaranty Announces Director Elections
Primus Guaranty, Ltd. (NYSE:PRS) today announced that its shareholders re-elected Frank P. Filipps and Thomas J. Hartlage to its board of directors and that David Czerniecki was appointed to its board to fill a vacancy. The company’s board now has nine directors. Messrs. Filipps and Hartlage were elected as Class II directors with a term expiring in 2012 and Mr. Czerniecki was appointed as a Class I director with a term expiring in 2010. Mr. Czerniecki will serve on the board’s Finance and Investment Committee.
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April 27, 2009
Primus Guaranty Comments on CDS on Asset-Backed Securities
Primus Guaranty, Ltd. (NYSE:PRS) today announced that two asset-backed securities, referenced by credit default swaps (“CDS”) written by Primus Financial Products, LLC (“Primus Financial”), were downgraded below Caa2 by Moody’s Investors Service (“Moody’s”). The notional principal on these CDS with counterparties is $15 million. Under the terms of the ISDA master agreement governing CDS on asset-backed securities, a downgrade of the underlying ...
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April 15, 2009
Primus Financial Repurchases $21.9 Million of Its Subordinated Notes
Primus Guaranty, Ltd. (the “Company” or “Primus Guaranty”) (NYSE:PRS) today announced that its subsidiary, Primus Financial Products, LLC (“Primus Financial”), purchased $21.9 million principal amount of its $75 million subordinated notes due 2034 in a privately negotiated transaction following an inquiry to Primus Financial made by the holder of the notes.
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April 03, 2009
Primus Comments on U.S. Automaker, IDEARC CDS Exposure
Primus Guaranty, Ltd. (the "Company")(NYSE:PRS) today commented on certain aspects of the credit default swap ("CDS") portfolio of Primus Financial Products, LLC ("Primus Financial").
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February 11, 2009
United States Securities and Exchange Commission - Form 8-K
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February 04, 2009
Primus Guaranty Reports Fourth Quarter 2008 Financial Results
Primus Guaranty, Ltd. (“Primus Guaranty” or “the Company”) (NYSE:PRS), a provider of credit protection, announced today a GAAP net loss of $(918.5) million, or $(21.20) per diluted share, for the fourth quarter of 2008, compared with a GAAP net loss of $(403.9) million, or $(8.97) per diluted share, for the fourth quarter of 2007. For the year ended December 31, 2008, the GAAP net loss was $(1.7) billion, or $(38.37) per diluted share, compared with a GAAP net loss ...
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December 09, 2008
Primus Guaranty Comments on Tribune Co. CDS Exposure
Following the filing yesterday by Tribune Co. (“Tribune”) of a petition under Chapter 11 of the U.S. Bankruptcy Code, Primus Guaranty, Ltd. (NYSE:PRS) provided the following information with regard to the credit default swaps portfolio of Primus Financial Products, LLC (“Primus Financial”).
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November 25, 2008
Primus Guaranty Agrees to Block Trade
Primus Guaranty, Ltd. (NYSE:PRS) (the “Company”) today announced that it agreed to purchase approximately 3.2 million shares of its common stock in a privately negotiated transaction, which is expected to settle on December 1, 2008. The Company agreed to pay $.70 per share for a total cost of approximately $2.2 million.
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November 21, 2008
Primus Guaranty Receives Non-Compliance Notice from New York Stock Exchange
Primus Guaranty, Ltd. (NYSE:PRS) (the “Company”) announced today that it has been notified by NYSE Regulation, Inc. that it is not in compliance with one of the continued listing standards of the New York Stock Exchange (the “NYSE”). The Company is considered below criteria established by the NYSE because the Company’s average closing price of its shares of common stock was less than $1.00 for 30 consecutive trading days. The NYSE currently makes ...