Business
Pricing Announcement of a Supplemental Offering
Pricing Announcement of a Supplemental Offering.
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n \n THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n LEI: 5493002UNUYXLHOWF752\n For immediate release\n LANCASHIRE HOLDINGS LIMITED\n 30 March 2021\n Hamilton, Bermuda\n Lancashire Holdings Limited announces pricing of a supplemental offering of fixed-rate reset junior subordinated notes\n Lancashire Holdings Limited (the “Company” or “Lancashire”) today announces that it has priced a supplemental offering (the “Offering”) of U.S.$50 million in aggregate principal amount of 5.625% fixed-rate reset junior subordinated notes due 2041 (the “AdditionalNotes”) which are to form part of the same series of the Company’s currently outstanding U.S.$400 million fixed-rate reset junior subordinated notes due 2041 (the “Existing Notes”), as announced by the Company on 8 and 12 March 2021.\n The Company expects to use the majority of the net proceeds of the issue of the Additional Notes (together with the net proceeds of the issue of the Existing Notes) to redeem its outstanding senior and subordinated indebtedness, with the balance being used for general corporate purposes. The Additional Notes will receive “Tier 2 Ancillary Capital” treatment by the Bermuda Monetary Authority.\n The Offering has been conducted as a private offering to qualified institutional investors in various jurisdictions and outside of the U.S. in accordance with Regulation S under the U.S. Securities Act of 1933, as amended, (the “Securities Act”). The Additional Notes will be sold and registered in minimum denominations of U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof.\n Application will be made for the Additional Notes to be admitted to trading on the International Securities Market of the London Stock Exchange and will be fully fungible with the Existing Notes upon admission. \n \n \nFor further information, please contact:\n \n Lancashire Holdings Limited\n \nChristopher Head +44 20 7264 4145\nGroup Company Secret...