GEORGE TOWN, Cayman Islands, March 30, 2017 (GLOBE NEWSWIRE) -- Global Indemnity Limited (NASDAQ:GBLI) today announced that the underwriters in its previously announced underwritten offering of its 7.875% Subordinated Notes due 2047 have exercised their over-allotment option in the amount of $10,000,000 principal amount of 2047 Notes. As a result, the aggregate principal amount of the 2047 Notes will increase to $130,000,000. The sale of the 2047 Notes pursuant to the over-allotment option closed on March 30, 2017.
Morgan Stanley & Co. LLC, UBS Securities LLC and RBC Capital Markets, LLC acted as joint book-running managers for the transaction.
About Global Indemnity and its subsidiaries
Global Indemnity Limited (NASDAQ:GBLI), through its several direct and indirect wholly owned subsidiary insurance and reinsurance companies, provides both admitted and non-admitted specialty property and casualty insurance coverages and individual policyholder coverages in the United States, as well as reinsurance worldwide. Global Indemnity Limited’s three primary segments are:
- United States Based Commercial Lines Operations
- United States Based Personal Lines Operations
- Bermuda Based Reinsurance Operations
