Assured Offers $499M In Stock To Protect Rating

Law360, New York (December 3, 2009, 2:11 PM EST) -- Assured Guaranty Ltd. has issued shares worth about $499 million to UBS Securities LLC as part of a capital plan the bond insurer instituted to ensure that its financial rating does not continue to drop.

The Bermuda-based holding company disclosed the transaction, which represents more than 23.9 million shares, in a prospectus filed Wednesday with the U.S. Securities and Exchange Commission.

As the sole underwriter, UBS agreed to pay $20.90 per share, a discount from Monday's closing price of $22.68 per share. The underwriter also has...
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