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Fitch to rate Wilton Re notes BBB
Fitch Ratings said it expects to assign a BBB rating to Wilton Re Finance LLC $300 million planned issuance of 5.875% senior notes due 2033.
The notes are unconditionally guaranteed by Wilton Re Holdings Ltd. and Wilton Re U.S. Holdings, Inc.
The transaction is expected to close on April 2.
The net proceeds of this offering will be used for general corporate purposes, including the funding of various new business transactions or the repayment of borrowings under the company's revolving credit facility. Pro forma financial leverage is expected to remain under 25%.
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