W. R. Berkley Corporation Announces $400 Million Senior Notes Offering

March 17, 2021

Willkie represented global insurance holding company W. R. Berkley Corporation in its offering of 3.550% Senior Notes due 2052.

On March 9, longtime Willkie client W. R. Berkley Corporation (NYSE: WRB) announced that it priced an offering of $400 million aggregate principal amount of 3.550% Senior Notes due 2052. The offering closed on March 16, 2021. The net proceeds of the offering will be used to repay at maturity the $76.5 million aggregate principal amount of the company’s 8.700% Senior Notes due 2022 and towards the $350 million aggregate principal amount of the company’s 4.625% Senior Notes due 2022.

BofA Securities, Credit Suisse, J.P. Morgan and Morgan Stanley were joint book-running managers of the offering.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.

The transaction was led by partner Jeffrey Hochman and associates Tej Prakash and Maria LaGumina. Counsel Catherine Harrington assisted on tax matters.