OneBeacon Insurance Completes Debt Offering
Bermuda-domiciled OneBeacon Insurance Group, Ltd. said that its wholly-owned subsidiary, OneBeacon U.S. Holdings, Inc. has closed its previously announced offering of $275 million aggregate principal amount of 4.60% Senior Notes due 2022.
The Issuer intends to use the proceeds of the offering to redeem all of its outstanding 5.875% Senior Notes due 2013 and it delivered notice that it had called for redemption of all of the 2013 Notes that remain outstanding. Payment for the redemption of the 2013 Notes is expected to be made on December 10, 2012.
