By Aleesia Forni
Virginia Beach, Feb. 11 – Third Point Re (USA) Holdings Inc., a wholly owned subsidiary of Third Point Reinsurance Ltd., gave details of its recent $115 million sale of 7% 10-year senior notes, which priced at par on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
Proceeds will be used to partially finance the capitalization of wholly owned subsidiary Third Point Reinsurance (USA) Ltd.
Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC were the bookrunners.
The notes will be fully and unconditionally guaranteed by Third Point Reinsurance Ltd.
Third Point is a Bermuda-based provider of specialty property and casualty reinsurance products.
| Issuer: | Third Point Re (USA) Holdings Inc.
|
| Guarantor: | Third Point Reinsurance Ltd.
|
| Amount: | $115 million
|
| Description: | Senior notes
|
| Maturity: | Feb. 13, 2025
|
| Bookrunners: | Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Make-whole call: | 50 bps
|
| Trade date: | Feb. 10
|
| Settlement date: | Feb. 13
|
| Distribution: | SEC registered
|
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