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Markel issuing $400M of senior notes


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Markel issuing $400M of senior notes

Markel Corp.on March 29 executed an underwriting agreement and related pricing agreement relatedto the issuance of $400 million aggregate principal amount of its 5.000% seniornotes due April 5, 2046.

The settlement date for the notes is April 5. Interest on thenotes is payable April 5 and Oct. 5 each year, starting Oct. 5.

According to a Form 8-K filed March 31, the underwriting agreementwas entered into between the company and Citigroup Global Markets Inc. and WellsFargo Securities LLC as representatives of the underwriters, pursuant to which thecompany agreed to issue and sell to the underwriters, and each underwriter agreed,severally and not jointly, to purchase from the company at a purchase price of 98.082%of the principal amount of the senior notes.

Net proceeds, before expenses, are approximately $392.3 million.

Citigroup Global Markets Inc.; Wells Fargo Securities LLC; BarclaysCapital Inc.; J.P. Morgan Securities LLC; SunTrust Robinson Humphrey Inc.; BB&TCapital Markets, a division of BB&T Securities LLC; BNY Mellon Capital MarketsLLC; Credit Suisse Securities (USA) LLC; Loop Capital Markets LLC; and Merrill LynchPierce Fenner & Smith Inc. were listed as the underwriters for the offering.