W. R. Berkley Corporation (NYSE: WRB) (the "Company") announced today that it priced an offering of $300 million aggregate principal amount of 4.00% Senior Notes due 2050 (the "Notes"). The offering is expected to close on May 12, 2020, subject to customary closing conditions. The net proceeds of the offering will be used to repay at maturity on September 15, 2020 the Company’s $300 million aggregate principal amount of 5.375% Senior Notes.
BofA Securities, Credit Suisse, J.P. Morgan and Morgan Stanley are joint book-running managers of the offering.
A shelf registration statement relating to the Notes has been filed with the Securities and Exchange Commission ("SEC") and has become effective. This announcement is not an offer to sell the Notes, and it is not soliciting an offer to buy the Notes in any jurisdiction where the offer or sale is not permitted.
The offering of the Notes will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus (when available) and the accompanying prospectus may be obtained by contacting BofA Securities, Inc., toll-free at 1-800-294-1322 or firstname.lastname@example.org, Credit Suisse Securities (USA) LLC, toll-free at 1-800-221-1037, J.P. Morgan Securities LLC, collect at 1-212-834-4533, or Morgan Stanley & Co. LLC, toll-free at 1-866-718-1649 or email@example.com. Alternatively, you may obtain these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.
Karen A. Horvath
Vice President – External