Bermuda-based XL Capital Ltd. plans to issue and sell Series A preference ordinary shares pursuant to XL’s currently effective shelf registration statement. The preference shares offered will not be exchangeable for or convertible into ordinary shares of XL.
The underwriters for XL’s preference share offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated and Salomon Smith Barney Inc., as joint book- runners.
The net proceeds from the sale of the preference shares will be used for general corporate purposes including, without limitation, payment for any Liquid Yield Optionâ„¢ Notes put to XL on Sept. 7, 2002 by the holders thereof.
Was this article valuable?
Here are more articles you may enjoy.
Business Interruption Claims Arising From the Middle East Conflict 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
