Assured Guaranty Ltd. (NYSE:AGO) ("AGL” and, together with its
subsidiaries, "Assured Guaranty”) announced that Dexia SA (the "Selling
Shareholder”) has priced a secondary public offering of 21,848,934 AGL
common shares owned by the Selling Shareholder at a price of $22.66 per
common share. The shares sold represent all of the Selling Shareholder’s
AGL common shares.
All common shares being offered are being sold by the Selling
Shareholder. AGL will not receive any proceeds from the sale of such
common shares.
UBS Securities LLC is acting as sole manager for the offering.
A shelf registration statement relating to the offering of AGL common
shares has previously been filed with the U.S. Securities and Exchange
Commission ("SEC”) and has become effective. The offer is being made by
the Selling Shareholder only by means of a prospectus supplement and
accompanying prospectus, forming an effective part of the registration
statement. Before investing, you should read the prospectus supplement
and the accompanying prospectus for more complete information about AGL,
the Selling Shareholder and this offering. When available, you may get
this document for free by visiting EDGAR on the SEC website at www.sec.gov
or the investor information section of AGL’s website at www.assuredguaranty.com.
A copy of the prospectus supplement and the accompanying prospectus
relating to the offering may be obtained by contacting: UBS Securities
LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus
Department (888-827-7275, ext. 3884).
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any common shares, nor will there be any
sale of common shares 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.
Assured Guaranty Ltd. is a publicly-traded Bermuda-based holding
company. Its operating subsidiaries provide credit enhancement products
to the U.S. and international public finance, infrastructure and
structured finance markets. More information on the Assured Guaranty
family of companies can be found at www.assuredguaranty.com.
Cautionary Statement Regarding Forward-Looking Statements:
Any forward-looking statements made in this press release reflect AGL’s
current views with respect to future events and financial performance
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such statements involve risks
and uncertainties that may cause actual results to differ materially
from those set forth in these statements. For example, AGL’s
forward-looking statements could be affected by: (1) rating agency
action, including a ratings downgrade at any time of AGL or any of its
subsidiaries and/or of transactions insured by such subsidiaries, both
of which have occurred in the past; (2) developments in the world’s
financial and capital markets that adversely affect issuers’ payment
rates, Assured Guaranty’s loss experience, its ability to cede exposure
to reinsurers, its access to capital, its unrealized (losses) gains on
derivative financial instruments or its investment returns; (3) changes
in the world’s credit markets, segments thereof or general economic
conditions; (4) more severe or frequent losses affecting the adequacy of
Assured Guaranty’s loss reserve; (5) the impact of market volatility on
the mark-to-market of its contracts written in credit default swap form;
(6) reduction in the amount of reinsurance portfolio opportunities
available to Assured Guaranty; (7) decreased demand or increased
competition; (8) changes in applicable accounting policies or practices;
(9) changes in applicable laws or regulations, including insurance and
tax laws; (10) other governmental actions; (11) difficulties with the
execution of Assured Guaranty’s business strategy; (12) contract
cancellations; (13) Assured Guaranty’s dependence on customers;
(14) loss of key personnel; (15) adverse technological developments;
(16) the effects of mergers, acquisitions and divestitures; (17) natural
or man-made catastrophes; (18) other risks and uncertainties that have
not been identified at this time; (19) management’s response to these
factors; and (20) other risk factors identified in AGL’s filings with
the SEC. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are made as of March 10, 2010. Assured
Guaranty undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
