XL Capital to pay put in cash

New York, April 26 - XL Capital Ltd. said it will pay the upcoming put on its zero-coupon convertible debentures due 2021 in cash.

The securities are putable on May 23 at a price of $641.88 per $1,000 principal amount at maturity.

If all the convertibles are put back to the company it will have to pay a total of $648.83 million.

XL is a Hamilton, Bermuda, insurance, reinsurance and financial products company.

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