PRINCETON, N.J., Aug. 18 /PRNewswire/ -- Munich Re America Corporation, a Delaware corporation (the "Company"), which was formerly known as American Re Corporation, today announced the expiration of its previously announced cash tender offer (the "Tender Offer") and the related solicitation of consents (the "Consent Solicitation" and together with the Tender Offer, the "Offer") for its outstanding 7.45% Senior Notes due 2026 (CUSIP No. 029163AD4) (the "Notes").The Offer expired at midnight, New York City time, on August 15, 2008 (the "Expiration Date"). As of the Expiration Date, the Company had received tenders with respect to $78,616,000 in aggregate principal amount of the Notes (approximately 15.72% of the outstanding aggregate principal amount of the Notes) pursuant to the Company's Offer to Purchase and Consent Solicitation Statement dated as of July 21, 2008 (the "Statement"). Accordingly, the Company has not received the Requisite Consents to the proposed amendment to the indenture governing the Notes.
The Company plans to accept for payment all Notes validly tendered and not validly withdrawn prior to the Expiration Date. The Company expects that payment for Notes validly tendered pursuant to the Offer will be made on August 19, 2008.
This announcement is not an offer to purchase, nor a solicitation of an offer to purchase, or a solicitation of tenders or Consents with respect to, any Notes. The Offer was made solely pursuant to the Statement which more fully set forth and governed the terms and conditions of the Offer.
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