XL to redeem 0% convertibles with note proceeds

New York, Nov. 9 - XL Capital Ltd. said it plans to redeem all its outstanding zero-coupon convertible debentures due 2021 in the CARZ structure using proceeds from its planned offering of $650 million of senior notes.

The redemption date will be Nov. 29.

As of Sept. 30, the Hamilton, Bermuda-based provider of insurance and reinsurance and financial products had $654.991 million accreted value of the convertibles outstanding.

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