Max Reinsurance (NASDAQ:MXRE)
Historical Stock Chart
From Sep 2019 to Sep 2024
Max Re Capital Ltd. (NASDAQ: MXRE; BSX: MXRE BH), the parent company of
Max USA Holdings Ltd. (“Max USA”),
a Delaware corporation, today announced that Max USA intends to offer
$100 million of senior notes due 2017. Max Re Capital intends to fully
and unconditionally guarantee the notes. The net proceeds of the
offering, which is expected to close during the second quarter of 2007,
will be used to repay short-term indebtedness of Max USA.
The notes will be offered to qualified institutional buyers in reliance
on Rule 144A under the Securities Act of 1933 and outside the United
States in reliance on Regulation S under the Securities Act. The notes
will not be registered under the Securities Act and may not be offered
or sold in the United States absent registration or an applicable
exemption from registration.
This press release is being issued pursuant to and in accordance with
Rule 135c under the Securities Act and shall not constitute an offer to
sell or a solicitation of an offer to buy the notes in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
Max Re Capital Ltd., through its principal operating subsidiaries,
provides specialty insurance and reinsurance products to corporations,
public entities, property and casualty insurers and life and health
insurers.
This press release may include statements about future expectations,
plans and prospects of the Company that constitute forward-looking
statements for purposes of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from those suggested by such
statements, including the risk that the SEC's view of the conclusions
reached by the Audit and Risk Management Committee of Max Re Capital's
Board of Directors in connection with the internal review of three
finite risk retrocessional contracts written in 2001 and 2003, which
caused Max Re Capital to restate its audited financial statements for
the years ended December 31, 2005, 2004, 2003, 2002 and 2001 and
unaudited financial statements for the periods ended March 31, 2006 and
June 30, 2006, may differ, perhaps materially, and result in material
changes to information contained in Max Re Capital’s
past SEC filings, including financial statements and financial
information. For further information regarding cautionary statements and
factors affecting future results, please refer to Max Re Capital's
Annual Report on Form 10-K for the year ended December 31, 2006 and
other documents filed by the company with the SEC. Max Re Capital
undertakes no obligation to publicly update or revise any
forward-looking statement whether as a result of new information, future
developments or otherwise.