GREENWICH, Conn.--(BUSINESS WIRE)--W. R. Berkley Corporation (NYSE: WRB) announced today that it priced an offering of an additional $170 million aggregate principal amount of 4.00% Senior Notes due 2050 (the “Notes”). The Notes constitute a further issuance of the Company’s 4.00% Senior Notes due 2050, of which $300 million aggregate principal amount was issued on May 12, 2020. The Notes were priced at a public offering price of 117.217% of the principal amount (plus accrued interest from May 12, 2020), for a yield to maturity of 3.099%.

The offering is expected to close on September 9, 2020, subject to customary closing conditions. The net proceeds of the offering will be used for the partial redemption of the Company’s $350 million aggregate principal amount of 5.625% Subordinated Debentures due 2053.

Morgan Stanley and Credit Suisse are joint book-running managers of the offering.