Validus increases leverage
Validus Holdings has announced that it has raised $150m through a private sale of junior subordinated deferrable interest debentures as part of a pooled transaction.
The debentures have a fixed rate of interest equal to 9.069% per annum through June 15, 2011, and thereafter a floating interest rate of 3-month LIBOR plus 355 basis points, reset quarterly. The
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