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W. R. Berkley Corporation Calls 5.900% Subordinated Debentures Due 2056 for Redemption
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W. R. Berkley Corporation (NYSE: WRB) (the “Company”) announced today that it will redeem the $110,000,000 aggregate principal amount of its 5.900% Subordinated Debentures due 2056 (CUSIP No. 084423 508) (the “Debentures”).
The redemption date will be March 1, 2021, and the redemption price will equal the principal amount plus accrued and unpaid interest to, but excluding, the date of redemption.
Details concerning the redemption price and the other terms and conditions of the redemption will be more fully described in a Notice of Redemption being provided to registered holders of the Debentures by The Bank of New York Mellon, as trustee. Holders of notes who have questions should contact Dimple Gandhi at the trustee at (212) 815-5498 or via email at dimple.gandhi@bnymellon.com, or Karen A. Horvath, Vice President – External Financial Communications, at the Company at (203) 629-3000.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.
w. r. berkley corporation, founded in 1967, is one of the nation’s premier commercial lines property casualty insurance providers. each of the operating units in the berkley group participates in a niche market requiring specialized knowledge about a territory or product. our competitive advantage lies in our long-term strategy of decentralized operations, allowing each of our units to identify and respond quickly and effectively to changing market conditions and local customer needs. this decentralized structure provides financial accountability and incentives to local management and enables us to attract and retain the highest caliber professionals. we have the expertise and resources to utilize our strengths in the present environment, and the flexibility to anticipate, innovate and respond to whatever opportunities and challenges the future may hold.
