Enstar accepts tenders for $69.56 million of 4½% notes due 2022

By Rebecca Melvin

Concord, N.H., Aug. 23 – Enstar Group Ltd. announced the expiration and final result of its Aug. 16 cash tender offer for any and all of its $350 million outstanding 4½% senior notes due 2022 (Cusip: 29359UAA7) in a press release on Monday.

As of the expiration at 5 p.m. ET on Aug. 20, the principal amount validly tendered and not validly withdrawn was $69,556,000. The company will accept all of the tendered notes for purchase. Settlement is slated for Aug. 25.

Holders will receive the previously announced consideration of $1,021.82 per $1,000 note plus interest accrued up to but not including the settlement date.

Wells Fargo Securities, LLC (866 309-6316 or 704 410-4756), Barclays (800 438-3242 or 212 528-7581) and HSBC Securities (USA) Inc. (888 HSBC-4LM or 212 525-5552) acted as dealer managers for the tender offer.

D.F. King & Co., Inc. (212 269-5550 for banks and brokers only, 866 207-3626 for all others; enstar@dfking.com) was the information and tender agent.

Enstar is an insurance group based in Hamilton, Bermuda.

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