Alleghany Announces Commencement Of Senior Notes Public Offering

NEW YORK, Sept. 2, 2014 /PRNewswire/ -- Alleghany Corporation (NYSE: Y) today announced that it has commenced a public offering of its Senior Notes due 2044 (the "Senior Notes").

Alleghany intends to use the net proceeds from the sale of the Senior Notes to redeem a portion of the 5.75% Senior Notes due December 2015 of its subsidiary, Transatlantic Holdings, Inc.

BMO Capital Markets, Goldman, Sachs & Co., Morgan Stanley and US Bancorp are acting as joint book-running managers for the Senior Notes offering.

The Senior Notes will be issued pursuant to an effective shelf registration statement and prospectus supplement filed today with the Securities and Exchange Commission (the "SEC").  The offering is being made only by means of a prospectus supplement and accompanying prospectus.  When available, copies of these documents may be obtained by calling BMO Capital Markets Corp. at 212-702-1191; Goldman, Sachs & Co. at Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; Morgan Stanley & Co. LLC at 1-866-718-1649; and U.S. Bancorp Investments, Inc. at 1-877-558-2607.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Senior Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  

About Alleghany Corporation

Alleghany Corporation (NYSE-Y) creates value through owning and managing operating subsidiaries and investments, anchored by a core position in property and casualty reinsurance and insurance. Alleghany's property and casualty subsidiaries include: Transatlantic Holdings, Inc., a leading global reinsurer; RSUI Group, Inc., a national underwriter of property and liability specialty insurance coverages; CapSpecialty, Inc., an underwriter of small commercial property, casualty and surety insurance coverages; and Pacific Compensation Corporation, an underwriter of workers' compensation insurance primarily in California.

This press release containsforward-looking statements with respect to the anticipated effects of the offering.  Actual results of the offering could be significantly different.  Factors that could affect results include those set forth in filings made by Alleghany with the SEC.  Although forward-looking statements help to provide additional information about prospects, readers should keep in mind that forward-looking statements are much less reliable than historical information.

SOURCE Alleghany Corporation

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