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Insurer WR Berkley Comes a Calling

As Eugene noted in the Reader Initiated Alerts my old friend WR Berkley (WRB) is finally stepping up and doing a partial call on the WRB-B 5.625% Jr Subordinated Debentures which have been callable since 5/2018.

Shares tumbled the last 3 days from the $25.80 area to $25.39 now–obviously someone had this info early.

The company will fund the partial redemption with further issuance of 4% Senior Notes.

The info is in the prospectus here.

I have owned this issue many times over the years–but not lately.

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