Ironshore raises $250mn from debt markets
Bermudian-headquartered international specialty insurer Ironshore has completed a $250mn private debt offering of 8.50 percent senior notes due in 2020.
Following the fledgling firm's $300mn equity capital raise in 2009, the move is Ironshore's first foray into debt issuance.
Ironshore's CEO Kevin Kelley said the offering was oversubscribed despite turbulent conditions in the credit markets, "clearly demonstrating" continued confidence in Ironshore and its growth prospects.
Kelley said: "We saw a window of opportunity and felt that it was a good...
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