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ChannelRe Holdings gets tenders for $73.99 million series B preferreds
By Angela McDaniels
Tacoma, Wash., Nov. 23 - ChannelRe Holdings Ltd. received 73,990 of Channel Reinsurance Ltd.'s outstanding series B preference shares during a tender offer that expired at 5 p.m. ET on Nov. 20, according to a company news release.
The company will pay $150 per $1,000 of liquidation preference.
The offer began Oct. 22.
Deutsche Bank Securities Inc. (866 627-0391 or 212 250-2955) was the dealer manager, and Global Bondholder Services Corp. (212 430-3774 or 866 857-2200) was the information agent.
Channel Re is a monoline financial guarantee reinsurer based in Pembroke, Bermuda. The company has written no new business since 2008.
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