OneBeacon files $1 billion shelf covering debt, stock and preferreds

By Devika Patel

Knoxville, Tenn., June 13 - OneBeacon Insurance Group, Ltd. filed a $1 billion shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration covers debt securities, common shares, preference shares, warrants, depositary shares, purchase contracts, purchase units and units, along with preferred stock and preferred securities to be offered by company subsidiaries and 71,754,738 class A common shares to be offered by selling shareholders.

The securities may be structured as convertibles.

OneBeacon, a Bermuda-domiciled holding company, will use proceeds for general corporate purposes.

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