Validus announces $150mn share issue

Validus is expected to raise $150mn in an underwritten public
issue of preference shares offering an annual dividend of around
5.875 percent.
The offering is in the form of newly-issued depositary shares
that are set to be priced at $25 apiece with each one representing
a 0.1 percent interest in a Validus series A preference share.
Proceeds will be used for "general corporate purposes"
the Bermudian announced today (6 June).
Moody's said it will rate the shares Ba1(hyb) with a...