W. R. Berkley Corp. priced an offering of $300 million of 5.10% subordinated debentures due 2059.
The offering is expected to close Dec. 16, subject to customary closing conditions. The net proceeds will be used for general corporate purposes.
The company intends to apply to list the securities on the New York Stock Exchange under the symbol WRB PR F. If approved for listing, W. R. Berkley expects trading of the debentures to commence within 30 days after they are first issued.
Morgan Stanley, BofA Securities, UBS Investment Bank and Wells Fargo Securities are joint book-running managers of the offering.