Bermuda-based Enstar Group has announced the pricing of $350 million aggregate principal amount of its 4.500 percent senior notes, which are due in 2022.
Enstar said that the offering is expected to close on March 10, 2017, subject to satisfaction of customary closing conditions.
The company explained that it intends to use the net proceeds from the offering for the repayment of amounts outstanding under its credit facilities and any remaining net proceeds will be used for general corporate purposes. Barclays, Wells Fargo Securities, Lloyds Securities and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering. In addition nabSecurities is acting as co-manager.
The notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission.
28 February 2017 Profits at Enstar Group, the Bermuda-based insurance group, increased in 2016, partly based on the solid performance of its subsidiaries StarStone and Atrium.
20 February 2017 Bermuda-based Enstar Group is to sell its subsidiary Pavonia Holdings to an undisclosed affiliate of Global Bankers Insurance Group, the insurance and reinsurance group of companies of Eli Global, for $120 million.
28 February 2017 Profits at Enstar Group, the Bermuda-based insurance group, increased in 2016, partly based on the solid performance of its subsidiaries StarStone and Atrium.
20 February 2017 Bermuda-based Enstar Group is to sell its subsidiary Pavonia Holdings to an undisclosed affiliate of Global Bankers Insurance Group, the insurance and reinsurance group of companies of Eli Global, for $120 million.