BERKLEY W R CORP false 0000011544 0000011544 2020-05-12 2020-05-12 0000011544 us-gaap:CommonStockMember 2020-05-12 2020-05-12 0000011544 wrb:M5.625SubordinatedDebenturesDue2053Member 2020-05-12 2020-05-12 0000011544 wrb:M5.90SubordinatedDebenturesDue20562Member 2020-05-12 2020-05-12 0000011544 wrb:M5.75SubordinatedDebenturesDue20561Member 2020-05-12 2020-05-12 0000011544 wrb:M5.70SubordinatedDebenturesDue2058Member 2020-05-12 2020-05-12 0000011544 wrb:M5.10SubordinatedDebenturesDue2059Member 2020-05-12 2020-05-12

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 12, 2020

Commission File Number 1-15202

 

W. R. BERKLEY CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

 

22-1867895

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

475 Steamboat Road

 

Greenwich

 

Connecticut

 

06830

(Address of principal executive offices)

 

 

 

(Zip Code)

(203) 629-3000

(Registrant’s telephone number, including area code)

None

Former name, former address and former fiscal year, if changed since last report.

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

 

Trading

Symbol

 

Name of Each Exchange

on Which Registered

Common Stock, par value $.20 per share

 

WRB

 

New York Stock Exchange

5.625% Subordinated Debentures due 2053

 

WRB-PB

 

New York Stock Exchange

5.90% Subordinated Debentures due 2056

 

WRB-PC

 

New York Stock Exchange

5.75% Subordinated Debentures due 2056

 

WRB-PD

 

New York Stock Exchange

5.70% Subordinated Debentures due 2058

 

WRB-PE

 

New York Stock Exchange

5.10% Subordinated Debentures due 2059

 

WRB-PF

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 


Item 1.01 Entry into a Material Definitive Agreement.

On May 12, 2020, W. R. Berkley Corporation (the “Company”) closed its public offering of $300 million aggregate principal amount of its 4.00% Senior Notes due 2050 (the “Notes”). The terms of the Notes are set forth in the Indenture, relating to Senior Debt Securities, dated as of May 12, 2020 (the “Base Indenture”), as supplemented and amended by the First Supplemental Indenture, dated as of May 12, 2020 (together with the Base Indenture, the “Indenture”), each between the Company and The Bank of New York Mellon, as trustee (the “Trustee”).

The foregoing descriptions of the Indenture and the Notes are qualified in their entirety by reference to the terms of such documents, which are filed hereto as Exhibits 4.1 and 4.2, respectively, and incorporated herein by reference.

On May 12, 2020, Willkie Farr & Gallagher LLP, counsel to the Company, issued an opinion and consent (attached hereto as Exhibits 5.1 and 23.1, respectively, and incorporated herein by reference) as to the validity of the Notes.

Item 9.01 Financial Statements and Exhibits.

The exhibits to this report are incorporated by reference into the Registration Statement (No. 333-221559) filed by the Company.

(d) Exhibits

 

  4.1

   

Indenture, dated as of May 12, 2020, between the Company and the Trustee.

         
 

  4.2

   

First Supplemental Indenture, dated as of May 12, 2020, between the Company and the Trustee, including the form of the Notes attached as Exhibit A thereto.

         
 

  5.1

   

Opinion of Willkie Farr & Gallagher LLP regarding the validity of the Notes.

         
 

23.1

   

Consent of Willkie Farr & Gallagher LLP (included in Exhibit 5.1).

         
 

104

   

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

W. R. BERKLEY CORPORATION

     

By:

 

/s/ Richard M. Baio

Name:

 

Richard M. Baio

Title:

 

Executive Vice President – Chief Financial Officer and Treasurer

Date: May 12, 2020