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W. R. Berkley files for debenture offering

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W. R. Berkley files for debenture offering

W. R. Berkley Corp. has filed a preliminary prospectus supplement related to sale of an undetermined amount of subordinated debentures due 2058.

The company will pay interest on the debentures every March 30, June 30, Sept. 30 and Dec. 30 of each year, starting June 30.

The company plans to apply to list the debentures on the New York Stock Exchange under the symbol WRB PR E. If approved for listing, the company expects the debentures to start trading within 30 days after they are first issued.

W.R. Berkley plans to use the net proceeds from the offering for general corporate purposes.

Morgan Stanley, Bank of America Merrill Lynch, UBS Investment Bank and Wells Fargo Securities are acting joint book-running managers for the offering.