Bermuda-based XL Capital Ltd. plans to issue and sell Series A preference ordinary shares pursuant to XL’s currently effective shelf registration statement. The preference shares offered will not be exchangeable for or convertible into ordinary shares of XL.
The underwriters for XL’s preference share offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated and Salomon Smith Barney Inc., as joint book- runners.
The net proceeds from the sale of the preference shares will be used for general corporate purposes including, without limitation, payment for any Liquid Yield Option™ Notes put to XL on Sept. 7, 2002 by the holders thereof.
Was this article valuable?
Here are more articles you may enjoy.
Chubb Q2 Net Income Down 3.8% on ‘Overly Soft’ Large Account, E&S Property 
As Parasite Spawned Chaos, Taylor Farms Slow-Walked Response 
Jury Awards 78-Year-Old Victim $56 Million for Crash Caused by Amazon Delivery Driver 
Florida Appeals Court Strikes Jury’s $335,000 Award in Universal Plumbing Claim 
