XL Capital calls all outstanding zero-coupon convertibles

Pittsburgh, Nov. 12 - XL Capital Ltd. will redeem all its outstanding zero-coupon convertible debentures due 2021 in the CARZ structure for $650.5836 per $1,000 principal amount of the debentures, according to a company news release.

The redemption date is Nov. 20.

If all the CARZ are redeemed, the aggregate redemption price will be $657,631,372.39, the release said.

XL Capital is a Hamilton, Bermuda-based provider of insurance and reinsurance coverages and financial products.

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