Liberty Mutual Group Inc. announced the early participation results of its offers to exchange new senior notes due 2050 for six series of its outstanding notes.
The notes are its series A junior subordinated notes, series C junior subordinated notes, 6.500% senior notes due 2042, 7.000% senior notes due 2034, 6.500% senior notes due 2035 and 4.850% senior notes due 2044.
About $67.1 million of series A junior subordinated notes were tendered as of the early participation date of Sept. 24. About $503.7 million remains outstanding.
Liberty Mutual Group also increased the limit on the principal amount of new notes to be issued in the exchange offers to $1.25 billion from $750 million. Pricing for the exchange offers is expected Sept. 25.
Global Bondholders Services Corp. is serving as information agent.
