WR Berkley Prices Baby Bonds

Insurer WR Berkley (WRB) has priced their new issuance of baby bonds.

The coupon is set at 4.25%. The bonds are investment grade.

The bond will mature in 2060 and will have an optional redemption starting in 2025. The company may defer interest payments for up to 5 years (multiple times) without being in default.

Proceeds from this issue will be used to call the balance of the WRB-B 5.625% baby bonds.

The pricing term sheet can be found here.

One thought on “WR Berkley Prices Baby Bonds”

  1. I got a partial fill @ IPO on this one.
    Will not be getting my other orders that ended on wait list.
    This is one that in the future if it falls below par I will add shares
    I think WRB is a good company
    They issued a 5.10 baby bond in late 2019 that traded under par for quite a while in 2020. I added shares of it. May be able to do the same on this one.
    Only time will tell.

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