HCC holders may convert 2.0% notes, 1.3% notes in second quarter

By Jennifer Chiou

New York, April 5 - HCC Insurance Holdings, Inc. announced that because of its share performance during the first quarter, its 2.0% convertible notes due 2021 and its 1.3% convertible notes due 2023 may be converted into shares during the second quarter.

The conversion opportunity arose after HCC's common stock exceeded both $25.60 and $29.45, the specified price targets for the 2.0% notes and 1.3% notes, respectively, for at least 20 trading days of the 30 consecutive trading day period ended on the last day of the previous quarter.

The conversion agent is U.S. Bank Corporate Trust Services (contact Steven A. Finklea at 713 235-9208).

Based in Houston, HCC is a specialty insurance group.

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