Enstar Prices $500 Million Of Senior Notes
Enstar Group Limited announced the pricing of $500 million aggregate principal amount of its 3.100% Senior Notes due 2031. The offering is expected to close on August 24, 2021, subject to satisfaction of customary closing conditions.
The company said, “Enstar intends to use the net proceeds from the offering to fund the purchase of its 4.500% Senior Notes due 2022 validly tendered and accepted for purchase in the tender offer announced on August 16, 2021, and to use any remaining net proceeds for general corporate purposes, including, but not limited to, repayment of borrowings under its revolving credit facility, funding for acquisitions, working capital and other business opportunities. Wells Fargo Securities, Barclays and HSBC are acting as joint book-running managers for the offering.
“The Notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the U.S. Securities and Exchange Commission.”
