W. R. Berkley Corporation Announces Pricing of $350 Million of 3.150% Senior Notes Due 2061

Rhea-AI Summary

W. R. Berkley Corporation (NYSE: WRB) has successfully priced a $350 million offering of 3.150% Senior Notes due 2061. The closing is anticipated on September 15, 2021, contingent on usual closing conditions. Proceeds will be allocated for general corporate purposes. The offering, managed by BofA Securities, Credit Suisse, J.P. Morgan, and Morgan Stanley, follows an effective shelf registration statement with the SEC. This announcement does not constitute an offer to sell or solicit purchases of the Notes in jurisdictions where such offers are prohibited.

Positive

• Successful pricing of $350 million Senior Notes offering.
• Attractive 3.150% interest rate on the Senior Notes.

Negative

• None.

GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE: WRB) (the “Company”) announced today that it priced an offering of $350 million aggregate principal amount of 3.150% Senior Notes due 2061 (the “Notes”). The offering is expected to close on September 15, 2021, subject to customary closing conditions. The net proceeds of the offering will be used for general corporate purposes.

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 supplement (when available) and the accompanying prospectus may be obtained by contacting BofA Securities, Inc., toll-free at 1-800-294-1322 or dg.prospectus_requests@bofa.com, 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 prospectus@morganstanley.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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210908006146/en/

Karen A. Horvath

Vice President – External

Financial Communications

203-629-3000

Source: W. R. Berkley Corporation

FAQ

What is the purpose of WRB's $350 million Senior Notes offering?

The proceeds will be used for general corporate purposes.

When is the closing date for WRB's Senior Notes offering?

The closing is expected on September 15, 2021.

What is the interest rate on WRB's Senior Notes due 2061?

The interest rate on the Senior Notes is 3.150%.

Which firms are managing WRB's Senior Notes offering?

BofA Securities, Credit Suisse, J.P. Morgan, and Morgan Stanley are joint book-running managers.