XL Files Shelf Registration to Raise $1.5 Billion

Bermuda’s XL Capital has filed with the Securities Exchange Commission to sell up to $1.5 billion worth of common and preferred stock, warrants, debt securities and share purchase contracts.

The “shelf registration” allows the company to sell the various securities from time to time at prices to be determined on the sale date.

XL plans to use the funds raised for general corporate purposes. It also plans to offer additional debt securities, which it will use for investments.