Maiden Holdings, Ltd. Announces Full Redemption of Maiden Holdings North America, Ltd.’s 8.000% Notes Due 2042
May 23 2017 - 4:28PM
Maiden Holdings, Ltd. (NASDAQ:MHLD) (“Maiden” or “the Company”)
today announced that its subsidiary, Maiden Holdings North America,
Ltd. (the “Issuer”), has given notice of its intention to redeem
all of its 8.000% Notes due 2042 (CUSIP Number 56029Q309) (the
“Notes”) (NYSE:MHNB) on June 27, 2017 (the “Redemption Date”). The
Notes will be redeemed at a redemption price equal to 100% of the
principal amount of the Notes being redeemed plus accrued and
unpaid interest on the principal amount of the Notes being redeemed
to, but not including, the Redemption Date.
The Trustee and Paying Agent for the Notes is Wilmington Trust
Company, 1100 North Market Street, Wilmington, DE 19890.
The Issuer has instructed Wilmington Trust Company, as Trustee
and Paying Agent for the Notes, to distribute a Notice of
Redemption to The Depository Trust Company (the “Depositary”) as
the registered holder of the Notes on May 23, 2017. Copies of
such Notice of Redemption and additional information relating to
the procedure for redemption of the Notes may be obtained from the
Depositary by calling (888) 360-3822.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Maiden Holdings, Ltd. Maiden Holdings,
Ltd. is a Bermuda-based holding company formed in 2007.
Through its subsidiaries, which are each A rated (excellent) by
A.M. Best, the Company is focused on providing non-catastrophic,
customized reinsurance products and services to small and mid-size
insurance companies in the United States and Europe. As of March
31, 2017, Maiden had $6.6 billion in assets and shareholders'
equity of $1.4 billion.
The Maiden Holdings, Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5006
Forward Looking Statements This press release
contains "forward-looking statements" which are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The forward-looking statements are based on the
Company's current expectations and beliefs concerning future
developments and their potential effects on the Company. There can
be no assurance that actual developments will be those anticipated
by the Company. Actual results may differ materially from those
projected as a result of significant risks and uncertainties,
including non-receipt of the expected payments, changes in interest
rates, effect of the performance of financial markets on investment
income and fair values of investments, developments of claims and
the effect on loss reserves, accuracy in projecting loss reserves,
the impact of competition and pricing environments, changes in the
demand for the Company's products, the effect of general economic
conditions and unusual frequency of storm activity, adverse state
and federal legislation, regulations and regulatory investigations
into industry practices, developments relating to existing
agreements, heightened competition, changes in pricing
environments, and changes in asset valuations. Additional
information about these risks and uncertainties, as well as others
that may cause actual results to differ materially from those
projected is contained in Item 1A. Risk Factors in the Company's
Annual Report on Form 10-K for the year ended December 31, 2016 as
updated in periodic filings with the SEC. The Company undertakes no
obligation to publicly update any forward-looking statements,
except as may be required by law.
CONTACT:
Noah Fields, Senior Vice President, Investor Relations
Maiden Holdings, Ltd.
Phone: 441.298.4927
E-mail: nfields@maiden.bm
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