Enstar Group Announces Pricing of $500M of Senior Notes Due 2031

Source: www.gulfoilandgas.com 8/18/2021, Location: South America

Enstar Group Limited announced the pricing of $500 million aggregate principal amount of its 3.100% Senior Notes due 2031 (the “Notes”). The offering is expected to close on August 24, 2021, subject to satisfaction of customary closing conditions.

Enstar intends to use the net proceeds from the offering to fund the purchase of its 4.500% Senior Notes due 2022 validly tendered and accepted for purchase in the tender offer announced on August 16, 2021, and to use any remaining net proceeds for general corporate purposes, including, but not limited to, repayment of borrowings under its revolving credit facility, funding for acquisitions, working capital and other business opportunities. Wells Fargo Securities, Barclays and HSBC are acting as joint book-running managers for the offering.

The Notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the U.S. Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer to sell or solicitation to buy will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials from the joint book-running managers by contacting Wells Fargo Securities, LLC toll-free at 1-800-645-3751 (or by emailing wfscustomerservice@wellsfargo.com), Barclays Capital Inc. toll-free at 1-888-603-5847, or HSBC Securities (USA) Inc. at 1-866-811-8049.


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