Greenwich, Conn.-based W.R. Berkley Corp. has closed its previously announced public offering of $150 million principal amount of its 5.125% Senior Notes due 2010. The company received net proceeds from the offering of $147.7 million, which will be used for general corporate purposes, including to provide additional capital for its insurance subsidiaries.
Morgan Stanley was the sole book runner of the offering, with Merrill Lynch & Co. as the joint lead manager.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company which operates in five segments of the property casualty insurance business: specialty insurance, alternative markets, reinsurance, regional property casualty insurance and international.
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