XL Capital Ltd announced that to the extent that holders of XL’s Liquid Yield Option(TM) Notes due 2021 (“LYONs”) tender any LYONs for purchase by XL on Sept. 8, 2003 (the “Purchase Date”), XL has elected to pay all of the purchase price for such LYONs in cash. XL has provided a company notice containing details of the LYONs repurchase to U.S. Bank National Association (the trustee under the indenture governing the LYONs) to be forwarded to each holder of the LYONs who wishes to tender their LYONs for purchase by XL.
Holders of LYONs may require XL to purchase all or a portion of their LYONs as of the Purchase Date at a purchase price of $601.16 per $1,000 aggregate principal amount at maturity of the LYONs properly tendered for purchase. In the event all of the outstanding LYONs are tendered for repurchase, the aggregate purchase price would be $305,895,456.72.
Was this article valuable?
Here are more articles you may enjoy.
Buffett’s Berkshire Cash Hits $382 Billion, Earnings Soar 
Starr Acquiring IQUW; Starr Managing Agency to Be Among 10 Largest at Lloyd’s 
Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk 
Satellite Data Reveals Hurricane Melissa Damage in Jamaica 
