Key Developments: Alleghany Corp (Y)

Y on New York Consolidated

24 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Alleghany Corporation's Alleghany Capital Corporation announces acquisition of Teapot Dome Oilfield By stranded oil resources corporation
Friday, 30 Jan 2015 12:08pm EST 

Alleghany Capital Corporation, a wholly-owned subsidiary of Alleghany Corporation:Announced that its subsidiary Stranded Oil Resources Corporation (SORC), through one of its subsidiaries, has acquired the Teapot Dome Oilfield, known officially as Naval Petroleum Reserve Number 3 (NPR-3).NPR-3 was purchased for $45.2 million from The United States of America, acting by and through the Department of Energy.  Full Article

Alleghany Corp completes sale of $300 million aggregate principal amount of 4.900 pct senior notes due 2044 - Form 8-K
Tuesday, 9 Sep 2014 12:12pm EDT 

Alleghany Corp:On Sept. 9, company completed the sale of $300 million aggregate principal amount of 4.900 pct Senior Notes due 2044 (Senior Notes) in an underwritten public offering (the Offering).Senior Notes will bear interest at the rate of 4.900 pct per annum.Interest on the Senior Notes will be paid semi-annually in arrears on March 15 and Sept. 15 of each year, commencing on March 15, 2015.Senior Notes will mature on Sept. 15, 2044.  Full Article

Alleghany announces commencement of senior notes public offering
Tuesday, 2 Sep 2014 08:56am EDT 

Alleghany Corp:Commenced public offering of its senior notes due 2044.Intends to use net proceeds from sale of Senior Notes to redeem a portion of 5.75 pct senior notes due Dec. 2015 of its subsidiary, Transatlantic Holdings, Inc.BMO Capital Markets, Goldman, Sachs & Co., Morgan Stanley and US Bancorp are acting as joint book-running managers for Senior Notes offering.  Full Article

A.M. Best Upgrades Ratings of Alleghany Corporation's RSUI Indemnity Company and Its subsidiaries
Wednesday, 2 Apr 2014 03:45pm EDT 

Alleghany Corporation:A.M. Best has upgraded financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit rating (ICR) to 'aa-' from 'a+' of RSUI Indemnity Company.Reinsured subsidiaries, Landmark American Insurance Company and Covington Specialty Insurance Company, collectively referred to as the RSUI Group (RSUI).Outlook for ratings has been revised to stable from positive.  Full Article

Alleghany Corp Announce Strategic Partnership
Wednesday, 31 Jul 2013 09:11am EDT 

Ares Management LLC and Alleghany Corp announced a new strategic partnership. Alleghany invested $250 million for a 6.25% equity ownership interest in Ares, which is privately held, and also committed to invest up to $1 billion of capital in various existing and new Ares investment strategies.  Full Article


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