Validus Holdings, Ltd. Announces $700 Million Syndicated Credit Agreements

HAMILTON, Bermuda, March 13  /PRNewswire-FirstCall/ -- Validus Holdings, Ltd. ("Validus" or "the Company") announced today that it had entered into credit agreements aggregating $700 million with a syndicate of lenders, consisting of a $500 million Five-Year Secured Letter of Credit Facility and a $200 million Three-Year Unsecured Letter of Credit Facility. The Five-Year Secured Letter of Credit Facility is secured by cash and eligible securities of the Company and its subsidiaries. The Three-Year Unsecured Letter of Credit Facility also allows the Company to borrow up to the full amount of the facility as revolving loans for general corporate purposes. J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. acted as joint lead arrangers and joint bookrunners for the facilities while ING Bank N.V.; Calyon, New York Branch; The Bank of New York; and Wachovia Bank, National Association acted as documentation agents.

About Validus Holdings, Ltd.

Validus Holdings, Ltd. is a specialized Bermuda-based provider of reinsurance, conducting its operations worldwide through its wholly-owned subsidiary Validus Reinsurance, Ltd.

Website: http://www.validusre.bm/ 

DATASOURCE: Validus Holdings, Ltd.



CONTACT:  Further information: David Haggie/Juliet Tilley, Haggie

Financial, Tel: [phone]

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