Flagstone Reinsurance files $500 million shelf for debt, preferreds

By E. Janene Geiss

Philadelphia, Sept. 22 - Flagstone Reinsurance Holdings Ltd. filed a $500 million shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration covers common shares, preferred shares and debt securities. The securities may be structured as convertibles.

Proceeds will be used for general corporate purposes.

Selling shareholders also will offer 71,547,891 common shares for up to $755.9 million, but the company will receive no proceeds from that sale.

Flagstone is a Hamilton, Bermuda-based reinsurance company.

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