This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Maiden Holdings, Ltd. Announces Pricing Of $152.5 Million Offering Of 7.75% Senior Notes Due December 1, 2043; Proceeds To Be Used To Redeem Outstanding TRUPS

HAMILTON, Bermuda, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (Nasdaq:MHLD) ("Maiden" or "the Company") today announced that its wholly owned U.S. holding company, Maiden Holdings North America, Ltd. ("Maiden NA"), has priced the offering of $152.5 million aggregate principal amount of 7.75% Senior Notes due December 1, 2043 (the "Notes"), which are fully and unconditionally guaranteed by Maiden. The Notes are redeemable for cash, in whole or in part, on or after December 1, 2018, at 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the redemption date.

Maiden NA intends to apply to list the Notes on the New York Stock Exchange and expects trading in the Notes to begin on the New York Stock Exchange within 30 days after issuance. The offering is expected to close on November 25, 2013, subject to customary closing conditions.

The net proceeds will be used to repurchase Maiden NA's outstanding 14% coupon trust preferred securities ("TRUPS") on January 15, 2014, when outstanding TRUPS are redeemable without the call premium.

The Notes are being offered under an effective shelf registration statement previously filed with the Securities and Exchange Commission ("SEC").

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offers of the securities will be made exclusively by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus and the prospectus supplement relating to the offering may be obtained from the joint book-running managers of the offering:
Merrill Lynch, Pierce, Fenner & Smith Incorporated     Morgan Stanley & Co. LLC
Attention: Prospectus Department     180 Varick Street
222 Broadway     New York, New York 10014
New York, New York 10038     Attention: Prospectus Department
email: dg.prospectus_requests@baml.com     e-mail: prospectus@morganstanley.com
       
Wells Fargo Securities, LLC     Goldman, Sachs & Co.
608 South 2 nd Avenue     Prospectus Department
Minneapolis, MN 55402     200 West Street
Attention: Capital Markets Client Support     New York, NY 10282
Telephone: (800) 326-5897     telephone: (866) 471-2526
e-mail: cmclientsupport@wellsfargo.com     facsimile: (212) 902-9316
      email: prospectus-ny@ny.email.gs.com

About Maiden Holdings, Ltd.

Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007.  Through its subsidiaries, which each have a financial strength rating of A- (excellent) from A.M. Best, the Company is focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe. As of September 30, 2013, Maiden had $4.4 billion in assets and shareholders' equity of $973.5 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs