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Maiden Holdings, Ltd. Announces Closing Of $152.5 Million Offering Of 7.75% Senior Notes Due December 1, 2043; TRUPs Holders Being Notified Of January 15, 2014 Redemption

Stocks in this article: MHLD

HAMILTON, Bermuda, Nov. 25, 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 closed its 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 offering was priced on November 18, 2013.

Total net proceeds from the offering were approximately $147.4 million, after deducting the underwriting discount and estimated offering expenses payable by Maiden NA and the Company. As previously announced, the net proceeds will be used to redeem Maiden NA's outstanding 14% coupon trust preferred securities ("TRUPs"). Maiden NA has begun the process of notifying all TRUPs holders of the upcoming redemption on January 15, 2014.

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   Morgan Stanley & Co. LLC
Incorporated   180 Varick Street
Attention: Prospectus Department   New York, New York 10014
222 Broadway   Attention: Prospectus Department
New York, New York 10038    e-mail: prospectus@morganstanley.com
email: dg.prospectus_requests@baml.com    
     
Wells Fargo Securities, LLC   Goldman, Sachs & Co.
608 South 2nd 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.

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