Montpelier Re’s $300 Million Senior Notes
Bermuda-based Montpelier Re Holdings Ltd. announced the pricing of its offering of $300 million in aggregate principal amount of senior notes due 2022. The 2022 Notes will mature on October 15, 2022, will bear interest at a rate of 4.70% per annum and will be issued at 99.682% of par value.
The offering is expected to close on October 5, 2012, subject to customary closing conditions.The proceeds of the offering are expected to be used to redeem Montpelier’s outstanding 6.125% Senior Notes due 2013 and for general corporate purposes.
