Markel Corporation MKL said it expects to accept all validly tendered Senior Notes from the holders in response to its tender offer. The company's press statement said it could accept a maximum of $250 million only. The senior notes carries interest rate of 7.35 percent and 7.125 percent due in 2034 and 2019, respectively.
Markel said the tender offer closed on April 11, which was the early date. Senior note holders will not be able to withdraw their surrendered notes as the deadline was over. The tender offer was slated to expire on April 25.
The company indicated the earliest settlement date is predicted to be April 13. The company indicated its consideration amount included a premium of $30 per $1000 principal amount of Notes.
On Monday, the stock closed at $885.86.
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