RICHMOND, Va., May 25, 2011 /PRNewswire via COMTEX/ --
Markel Corporation (NYSE: MKL) (the "Company") announced today that it has priced a public offering of $250 million aggregate principal amount of 5.35% senior notes due 2021. The net proceeds will be used for general corporate purposes, including acquisitions. In addition, proceeds may be used to repurchase other of the Company's outstanding debt securities. Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the Joint Book-Running Managers for the offering, which is expected to close on or about June 1, 2011.
A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission and has become effective. This release is not an offer to sell or a solicitation to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the U.S. Securities and Exchange Commission's website at www.sec.gov or by contacting Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220 or calling toll-free: 1-877-858-5407 or Wells Fargo Securities, LLC at 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, emailing: cmClientsupport@wachovia.com or calling toll-free: 1-800-326-5897.
About Markel Corporation
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value.
SOURCE Markel Corporation