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Chris Garrod of Conyers Dill & Pearman’s Bermuda office advised OneBeacon Insurance Group, Ltd. (“OBIG”) regarding the debt offering of its wholly-owned subsidiary, OneBeacon U.S. Holdings, Inc. OBIG is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange, offering a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies.
The offering, which closed on 9 November 2012, consisted of US$275 million aggregate principal amount of 4.60% Senior Notes due 2022. The Senior Notes were guaranteed by OBIG. The underwriters for the transaction include Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc.