OneBeacon Offering Senior Notes Due 2022
OneBeacon Insurance Group Ltd’s wholly-owned subsidiary, OneBeacon U.S. Holdings, Inc intends to offer a to-be-determined amount of Senior Notes due 2022 subject to market and other conditions. The Senior Notes will be guaranteed by the Company. The underwriters for the transaction are Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc. The Issuer intends to use the proceeds of the offering, along with cash on hand and cash from short-term investments, to redeem all of its outstanding 5.875% Senior Notes due 2013.
