Insurance holding company W. R. Berkley Corporation closes on offering of aggregate principal amount of 5.625% Subordinated Debentures due 2053.
On May 2, Willkie client W. R. Berkley closed on its offering of $350 million aggregate principal amount of 5.625% Subordinated Debentures due 2053. The proceeds of the offering are being used in part to redeem the company’s outstanding $250 million principal amount of 6.750% Subordinated Debentures due 2045. W. R. Berkley is an insurance holding company that is among the largest commercial lines writers in the United States. The company operates in three segments of the property casualty insurance business: insurance-domestic, insurance-international and reinsurance-global. The deal was handled by partner Jeffrey Hochman and associates Benjamin Nixon and Ruchi Patel.