Enstar Group Limited Announces Pricing of $350 Million of 7.500% Fixed-Rate Reset Junior Subordinated Notes Due 2045

Core Viewpoint - Enstar Group Limited has announced the pricing of $350 million in 7.500% Fixed-Rate Reset Junior Subordinated Notes due 2045, with the offering expected to close on March 18, 2025, pending customary closing conditions [1] Group 1: Financial Details - The net proceeds from the offering will be used to purchase 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040 issued by Enstar's subsidiary, Enstar Finance LLC, which Enstar guarantees on a junior subordinated basis [2] - Any remaining net proceeds will be utilized for redeeming additional 2040 Junior Subordinated Notes during future par call periods and for general corporate purposes, including acquisitions and working capital [2] Group 2: Regulatory Information - The Notes have not been registered under the Securities Act of 1933 and may only be offered to "qualified institutional buyers" under Rule 144A and certain non-U.S. persons in offshore transactions under Regulation S [3] - This press release is issued in accordance with Rule 135c under the Securities Act and does not constitute an offer to sell or a solicitation to buy any securities [4] Group 3: Company Overview - Enstar is a NASDAQ-listed global insurance group that provides innovative capital release solutions through its network of companies in various countries, including Bermuda, the United States, and the United Kingdom [5] - The company is a market leader in legacy acquisitions, having acquired over 120 companies and portfolios since its inception [5]