Transatlantic Holdings, Inc. Prices Debt Public Offering
Business Wire, Nov 19, 2009
NEW YORK — Transatlantic Holdings, Inc. (the Company) (NYSE: TRH) announced today
that it priced a registered offering (the Offering) of $350,000,000
aggregate principal amount of its 8.00% Senior Notes due 2039 (the
Notes). The Notes are being sold to the public at a price of 97.234%
of principal. The Offering is expected to close on or about November 23,
2009, subject to customary closing conditions. The Company intends to
use the net proceeds from the Offering for general corporate purposes
which, depending on market conditions, may include repurchases of the
Companys common stock and its 5.75% Senior Notes due 2015. Goldman,
Sachs & Co. and Wells Fargo Securities, LLC are underwriters for the
Offering.
The Notes are being offered pursuant to an effective shelf registration
statement that has been filed with the Securities and Exchange
Commission (SEC). A prospectus and prospectus supplement related to
the Offering have been filed with the SEC and are available on the SECs
website at http://www.sec.gov.
Copies of the prospectus for the Offering can be obtained from the
Investor Relations Department at: Transatlantic Holdings, Inc., 80 Pine
Street, New York, New York 10005, Telephone: (212) 365-2292, E-mail: investor_relations@transre.com
or from the underwriters at: Goldman, Sachs & Co., Prospectus
Department, 85 Broad Street, New York, NY 10004, telephone:
1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com
or Wells Fargo Securities, LLC, 301 South College Street, Charlotte, NC
28288, Prospectus Delivery Department, Telephone: 1-800-326-5897.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any sale
of the Notes in any jurisdiction in which such offer, solicitation or
sale would not be permitted.
Transatlantic Holdings, Inc. is a leading international reinsurance
organization headquartered in New York, with operations on six
continents. Its subsidiaries, Transatlantic Reinsurance Company, Trans
Re Zurich and Putnam Reinsurance Company, offer reinsurance capacity on
both a treaty and facultative basis structuring programs for a full
range of property and casualty products, with an emphasis on specialty
risks.
Caution Concerning Forward-Looking Statements
This press release may include, and the Companys officers and
representatives may from time to time make, statements which may
constitute forward-looking statements within the meaning of the U.S.
federal securities laws. These forward-looking statements are
identified, including without limitation, by their use of such terms and
phrases as intend, intends, intended, goal, estimate,
estimates, expect, expects, expected, project, projects,
projected, projections, plans, anticipates, anticipated,
should, think, thinks, designed to, foreseeable future,
believe, believes, scheduled and similar expressions.
These statements are not historical facts but instead represent only the
Companys belief regarding future events and financial performance, many
of which, by their nature, are inherently uncertain and outside of the
Companys control. These statements may address, among other things, the
Companys strategy and expectations for growth, product development,
government and industry regulatory actions, legal matters, financial,
credit and industry market conditions, financial results and reserves,
as well as the expected impact on the Company of natural and man-made
(e.g., terrorist attacks) catastrophic events and political, economic,
legal and social conditions. It is possible that the Companys actual
results, financial condition and expected outcomes may differ, possibly
materially, from those anticipated in these forward-looking statements
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