15th Dec 2006 07:58
Advent Capital (Holdings) PLC15 December 2006 For publication in the United Kingdom only. Not for release, publication, or distribution in or into any other jurisdiction including the United States, Canada, Australia, South Africa, The Republic of Ireland or Japan. Advent Capital (Holdings) PLC ("Advent" or the "Company") CLOSING OF DEBT ISSUE Advent Capital (Holdings) PLC, the specialist Lloyd's insurer, today announcesthat it has closed its US$20 million (approximately £10.1 million) Floating RateSenior Notes issue at an interest rate of three month US$ LIBOR + 4.15% throughplacement agents Keefe, Bruyette & Woods, Inc. and FTN Financial CapitalMarkets. This completes the £19.7 million capital raising announced by the Company on 7December 2006, the proceeds of which will be used to establish a class 3reinsurance company in Bermuda. The Company has lodged its application for aninsurance licence with the Bermuda Monetary Authority. 15 December 2006 For further information please contact: Advent Capital HoldingsKeith Thompson Tel: 020 7743 8200Chief Operating Officer Trevor Ambridge Tel: 020 7743 8200Chief Financial Officer Neil Ewing Tel: 020 7743 8250Investor Relations Officer Pelham Public Relations Tel: 020 7743 6670Charles VivianPolly Fergusson Advent Capital (Holdings) PLC, which listed on AIM in June 2005, is a leadingLloyd's insurer that manages and participates on Syndicate 780 and for 2007 willalso commence underwriting through a new business platform, 'Advent Re' inBermuda. The Advent business is predominantly short tail property reinsuranceand insurance and the company specialises in catastrophe business. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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