Maiden Holdings Prices $100 Million Offering of 8.25% Senior Notes Due June 15, 2041
Maiden Holdings (Nasdaq: MHLD) today announced that its wholly-owned U.S. holding company, Maiden Holdings North America, Ltd., has priced the offering of $100 million aggregate principal amount of 8.25% Senior Notes due June 15, 2041 (the "Notes"), which are fully and unconditionally guaranteed by Maiden. The Notes are redeemable for cash, in whole or in part, on or after June 15, 2016, at 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the redemption date.
Maiden NA intends to apply to list the Notes on the New York Stock Exchange and expects trading in the Notes to begin within 30 days after issuance. The offering is expected to close on June 24, 2011, subject to customary closing conditions. Maiden NA has granted the underwriters a 30-day option to purchase up to an additional $15 million aggregate principal amount of Notes to cover over-allotments, if any.
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