Enstar Group Commences Any-and-All Tender for 5.500% Junior Subordinated Notes Due 2042
Enstar Group Limited (ESGR) commenced a cash tender offer for all outstanding 5.500% Fixed-Rate Reset Junior Subordinated Notes due 2042 issued by subsidiary Enstar Finance LLC and guaranteed by the parent. The any-and-all structure allows Enstar to retire the entire outstanding series if holders choose to tender.
Enstar Group Limited announced June 22 that it has commenced an any-and-all cash tender offer for the 5.500% Fixed-Rate Reset Junior Subordinated Notes due 2042. The notes were issued by Enstar Finance LLC, a wholly owned subsidiary, and carry a junior subordinated guarantee from Enstar Group.
The Bermuda-based insurance holding company and its Delaware financing subsidiary are the parties executing the tender. No principal amount outstanding or total consideration was disclosed in the announcement, though the any-and-all structure signals Enstar's intent to retire the entire series if tendered.
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