HOUSTON, Nov. 10, 2009 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc.
(NYSE:HCC) today announced that it has priced an offering of $300 million
aggregate principal amount of 6.300% Senior Notes due 2019 under its shelf
registration statement. The net proceeds of the offering will be used to pay
down a portion of HCC's credit facility. Banc of America Securities LLC, J.P.
Morgan Securities Inc. and Wells Fargo Securities, LLC are the Joint
Book-Running Managers for the offering, and Citigroup Global Markets Inc.,
Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc. and RBS Securities
Inc. will act as Co-managers for the offering which is expected to close on
November 16, 2009. A written prospectus relating to the offering may be obtained
by contacting Banc of America Securities LLC at 1-800-294-1322, J.P. Morgan
Securities Inc. at 1-212-834-4533 or Wells Fargo Securities, LLC at
1-800-326-5897.
A shelf registration statement relating to these securities has been filed with
the Securities and Exchange Commission and has become effective. This press
release shall not constitute an offer to sell or a solicitation of an offer to
purchase any of these securities, and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful. The notes may be offered by means of a
prospectus, including a prospectus supplement.
Headquartered in Houston, Texas, HCC Insurance Holdings, Inc. is a leading
international specialty insurance group with offices across the United States
and in the United Kingdom, Spain and Ireland.
Forward-looking statements contained in this press release are made under "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995 and
involve a number of risks and uncertainties. The types of risks and
uncertainties which may affect the Company are set forth in its periodic reports
filed with the Securities and Exchange Commission.
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CONTACT: HCC Insurance Holdings, Inc.
Jen Browne, Investor Relations Coordinator
(713) 996-1144
