SUBNOTESubmarine Notice
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The apps will include software, web services, and complementary server or desktop computer apps for mobile devices like the Apple iPhone, Windows Mobile smartphones, Symbian smartphones, and the emerging so-called netbook class of lightweight subnotes often running Linux or Windows XP," stated Todd Ogasawara.
Both the Preferred Securities and the Subnotes will carry a 30 year term.
In addition to financing the $61 million purchase of GSCP's share of the nonstandard automobile division, the proceeds from the issuance of the Subnotes will be used to (i) retire the approximately $45 million of term debt incurred in March, 1996, (ii) provide additional capital to the Company's operating insurance subsidiaries and (iii) pay expenses of the offering of the Preferred Securities.