Kingsway Financial Services Inc. announced today that Kingsway Linked Return of Capital Trust has completed the public offering of $78 million of 5.00% Kingsway Linked Return of Capital preferred units due June 30, 2015.

The offering was made through a syndicate of underwriters led by Scotia Capital Inc., and included CIBC World Markets Inc., Desjardins Securities Inc. and HSBC Securities (Canada) Inc.

The net proceeds of the offering were used for a series of investments that included the purchase of an approximately $74.1 million 7.12% senior note due June 30, 2015 issued by a Kingsway affiliate. The proceeds from the sale of this note will be used for general corporate purposes, which will include the payment of a portion of the amounts outstanding under Kingsway’s $150 million revolving credit facility, which portion is estimated to be approximately $35 million.

The LROC Preferred Units are listed on the TSX under the symbol KSP.UN.

Kingsway’s primary business is trucking insurance and the insuring of automobile risks for drivers who do not meet the criteria for coverage by standard automobile insurers.