Enstar raises $350m via bond issue

Enstar Finance, a subsidiary of Enstar Group, has raised $350 million via the issue of 5.750 percent fixed-rate reset junior subordinated notes, due 2040.

The notes are fully and unconditionally guaranteed, on a junior subordinated basis, by Enstar. Enstar will use the proceeds to repay approximately $350 million of borrowings outstanding under its term loan facility.

The offering is expected to close on August 26, 2020, subject to satisfaction of customary closing conditions.