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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

XL Announces Pricing Of $600 Million Of Senior Notes

DUBLIN, Ireland, Nov. 18, 2013 /PRNewswire/ -- XL Group plc (NYSE: XL) ("XL") announced today that its wholly-owned subsidiary, XLIT Ltd. ("XL-Cayman"), has priced a public offering of $300,000,000 aggregate principal amount of 2.30% Senior Notes due 2018 and $300,000,000 aggregate principal amount of 5.25% Senior Notes due 2043, both of which will be fully and unconditionally guaranteed by XL.

XL-Cayman expects to receive net proceeds from this offering of approximately $592,955,000, after deducting underwriting discounts and estimated offering expenses. XL-Cayman intends to use the net proceeds from the sale of the senior notes for the repayment at maturity of the outstanding $600,000,000 principal amount of its 5.25% Senior Notes due September 2014.

The joint book-running managers for the offering are Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC.

About XL Group plc

XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.  XL is the company clients look to for answers to their most complex risks and to help move their world forward.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, and shall not constitute an offer, solicitation or sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale is not permitted. The offering is being made pursuant to an effective shelf registration statement, and  by means of a prospectus and related prospectus supplement, which may be obtained by visiting the U.S. Securities and Exchange Commission's website at www.sec.gov or by contacting Barclays Capital Inc. toll-free at 1-877-603-5847; Deutsche Bank Securities Inc. toll-free at 1-800-503-4611; or J.P. Morgan Securities LLC collect at 1-212-834-4533.

This press release contains forward-looking statements. Such statements involve inherent risks and uncertainties. Statements that are not historical facts, including statements about XL's and XL-Cayman's belief or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those projected in such forward-looking statements, including regarding the expected receipt by XL-Cayman of the proceeds described above, and therefore you should not place undue reliance on them. A non-exclusive list of the important factors that could cause actual events or results to differ materially from those in such forward-looking statements is set forth in XL's most recent annual report on Form 10-K, quarterly reports on Form 10-Q and XL's other documents on file with the U.S. Securities and Exchange Commission. XL undertakes no obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE XL Group plc

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.46 -12.11 -0.07%
S&P 500 2,000.38 +3.64 0.18%
NASDAQ 4,572.9770 +15.2820 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs