OneBeacon Announces Completion Of Debt Offering
OneBeacon Insurance Group (NYSE: OB) (the "Company") today announced that its wholly-owned subsidiary, OneBeacon U.S. Holdings, Inc. (the "Issuer"), has closed its previously announced offering of $275 million aggregate principal amount of 4.60% Senior Notes due 2022 (the "Senior Notes").
The Issuer intends to use the proceeds of the offering to redeem all of its outstanding 5.875% Senior Notes due 2013 (the "2013 Notes") and today it delivered notice that it had called for redemption of all of the 2013 Notes that remain outstanding. Payment for the redemption of the 2013 Notes is expected to be made on December 10, 2012.
The Company and the Issuer have filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates and the Senior Notes were sold pursuant to that registration statement and prospectus. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and the other documents that the Company and the Issuer have filed with the SEC for more complete information about the Company, the Issuer and the offering of the Senior Notes. These documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. This news release does not constitute an offer to sell or a solicitation of an offer to buy the Senior Notes, which may be made only pursuant to the terms of the relevant prospectus (including the prospectus supplement related to the Senior Notes).
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