Transatlantic Holdings Inc. has priced a registered offering of $750,000,000 aggregate principal amount of its 5.75% senior notes due 2015 (the “Notes”).
The Notes are being sold at a discount of 0.488% from face value. Of the $750,000,000 aggregate principal amount of the Notes offered, $450,000,000 aggregate principal amount are being purchased by certain subsidiaries of American International Group Inc., beneficial owner of approximately 60% of the company’s common stock.
The offering is expected to close on Dec. 14, 2005, subject to customary conditions. The company intends to use the net proceeds of the offering to increase the capital and surplus of its wholly-owned subsidiary, Transatlantic Reinsurance Company, and for other general corporate purposes.
The underwriters for the offering are Banc of America Securities LLC and Merrill Lynch & Co.
Was this article valuable?
Here are more articles you may enjoy.
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
AI for the Defense: Should Insurers or Law Firms Pay? 
