W. R. Berkley Corporation Announces Redemption of W. R. Berkley Trust
GREENWICH, Conn. -- April 26, 2013
W. R. Berkley Corporation (NYSE: WRB) announced today that, as contemplated in
its recent offering of $350 million aggregate principal amount of 5.625%
Subordinated Debentures due 2053, it will cause to be redeemed all outstanding
6.750% Trust Originated Preferred Securities^(SM) (“TOPrS^(SM)”) (CUSIP No.
08449Q 20 3) of W. R. Berkley Capital Trust II (“W. R. Berkley Trust”) on May
26, 2013 (the “Redemption Date”) at a redemption price equal to $25 per $25
liquidation amount of the securities, together with accrued and unpaid
distributions on the securities to, but not including, the Redemption Date.
The Bank of New York Mellon will act as Paying Agent. Redemptions will be made
upon the presentation and surrender of the securities to the Paying Agent by
mail, by hand or by overnight delivery at The Bank of New York Mellon,
Corporate Trust Operations, 111 Sanders Creek Parkway, East Syracuse, New York
In connection with such redemption of the W. R. Berkley Trust securities, W.
R. Berkley Corporation will prepay all of its outstanding 6.750% Subordinated
Debentures due 2045 currently held by W. R. Berkley Trust on the Redemption
Date at par plus accrued and unpaid interest to, but not including, the
Redemption Date. The proceeds from the prepayment of the debentures will be
used by W. R. Berkley Trust, the sole holder of the debentures, to redeem its
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 in three segments of the property casualty insurance business:
insurance-domestic, insurance-international and reinsurance-global.
W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice President – External
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