XL Capital Notes that Underwriters Exercise Option to Purchase Additional Ordinary Shares
Bermuda-based XL Capital Ltd. reported that the underwriters exercised their option to purchase an additional 5,076,900 ordinary shares in connection with XL’s previously announced plans to sell 33,846,000 of ordinary shares and $745,000,000 of equity security units.
Following closing of both offerings on Friday, total gross proceeds to XL are expected to be approximately $3.2 billion.
The joint book-running managers for the offerings are Goldman, Sachs & Co. and Citigroup Corporate and Investment Banking.
Popular Today
- KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event
- Broad AI Exclusions in Insurance Policies Could Create Uncertainty, Marsh CEO Says
- All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery
- Travelers Reports Solid Underwriting, Record Investment Income for Q3