Lancashire plans $450 million fixed-rate reset notes due 2041

By Taylor Fox

New York, March 8 – Lancashire Holdings Ltd. launched an offering of up to $450 million of fixed-rate reset junior subordinated notes due 2041, according to a news release.

The Regulation S notes are expected to issued as tier 2 ancillary capital.

The company expects to use the proceeds to redeem outstanding senior and subordinated debt and for general corporate purposes.

Lancashire, based in Hamilton, Bermuda, is a specialty insurance provider.

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