By Angela McDaniels
Seattle, Nov. 29 - Odyssey Re Holdings Corp. completed a $40 million private placement of floating-rate senior debentures due Dec. 15, 2021 on Tuesday, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
Interest on the debentures is Libor plus 250 basis points. The coupon will be payable quarterly and will be reset quarterly.
The debentures are callable at par beginning Dec. 15, 2011.
Wilmington Trust Co. is the trustee for the notes.
Odyssey Re Holdings is an insurance company based in Stamford, Conn.
| Issuer: | Odyssey Re Holdings Corp.
|
| Amount: | $40 million
|
| Issue: | Floating-rate senior debentures, series C
|
| Maturity: | Dec. 15, 2021
|
| Coupon: | Libor plus 250 bps
|
| Call: | Beginning Dec. 15, 2011 at par
|
| Settlement date: | Nov. 28
|
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