Assured Guaranty (AGO) Completes 27.52M Common Offering for Net Proceeds of $574M

December 4, 2009 11:16 AM EST

Assured Guaranty Ltd. (NYSE: AGO) announced the completion of the sale of 27,512,600 common shares at a price of $20.90 per share, representing 23,924,000 shares that it agreed to sell to the underwriter in a public offering and an additional 3,588,600 common shares that the underwriter elected to purchase pursuant to an option granted in connection with the public offering. The net proceeds of the sale totaled approximately $574.0 million.

UBS Securities LLC acted as sole underwriter for the offering. Willis Capital Markets and Advisory served as transaction advisor for the Company.

Assured Guaranty intends to use the net proceeds of the offering for general corporate purposes and to complete the external capital portion of the rating agency capital initiatives for its subsidiaries announced in its November 12, 2009 press release. In light of the size of the offering, Assured Guaranty does not currently expect to execute the external reinsurance arrangement discussed in that press release.

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