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Day: September 4, 2020

Allied Announces Closing of $153.3 Million Private Placement of Units

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES OF AMERICATORONTO, Sept. 04, 2020 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (TSX:AP.UN) (“Allied”) announced today that it has closed its previously announced private placement of 4,143,108 units. The units were issued from treasury at a price of $37.00 per unit for gross proceeds of $153.3 million.Allied will use the net proceeds of the offering to fund its development program into 2021. In doing so, Allied will maintain its industry-leading debt metrics within target ranges, most importantly its net debt as a multiple of annualized adjusted EBITDA. Allied expects its development program to generate substantial amounts of new recurring rental revenue in 2021, 2022 and beyond.  The units have not been, and will not be,...

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Sompo International to Acquire Diversified Crop Insurance Services and Become One of the Largest Crop Insurance Providers in North America and the World

PEMBROKE, Bermuda, Sept. 04, 2020 (GLOBE NEWSWIRE) — Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that it will acquire Diversified Crop Insurance Services (“Diversified”), a subsidiary of CGB Enterprises, Inc. (CGB). The addition of Diversified to Sompo International’s existing global AgriSompo platform, which already includes ARMtech, currently the 6th largest underwriter of U.S., federally sponsored multi-peril crop insurance, will create one of the largest crop insurance providers in North America and the world with combined gross written premiums of over $2b in 2019.   Chris Gallagher, CEO, Sompo International Commercial P&C, commented, “The acquisition of Diversified aligns with the strategic vision for our AgriSompo platform,...

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