View this article online: https://www.insurancejournal.com/news/international/2004/11/15/47688.htm
Following the issuance of $650 million in senior notes (See IJ Web site Nov. 9), Bermuda’s XL Capital Ltd. announced that it has called for redemption of all of its outstanding Zero-Coupon Convertible Debentures due 2021 (“CARZ”).
XL said: “The redemption date for the CARZ will be November 29, 2004. The redemption price will be $650.5836 per $1,000 principal amount at maturity of CARZ. In the event all of the outstanding CARZ are surrendered for redemption, the aggregate redemption price would be $657,631,372.39.
In order to receive the CARZ redemption price, holders must deliver their CARZ to U.S. Bank National Association, as paying agent under the indenture governing the CARZ.”