HCI plans to raise $115mn in debt

HCI Group has announced its intention to raise $115mn of debt in a
private placement days after its CEO signalled an interest in
acting as a consolidator in the disjointed Florida market.
The carrier said $35.0mn will be used for stock buybacks, while
$40.8mn will be used to pay off existing debt. HCI said the
remainder would be used for "general corporate
purposes".
Following the publication of the carrier's consensus-beating
fourth quarter results last week, HCI chairman and CEO Paresh...