XL Capital Ltd
(NYSE: XL) ("XL") announced Monday that to the extent that holders of XL's
Liquid Yield Option(TM) Notes due 2021 ("LYONs") tender any LYONs for purchase
by XL on September 7, 2004 (the "Purchase Date"), XL has elected to pay all of
the purchase price for such LYONs in cash. XL has provided a company notice
containing details of the LYONs repurchase to U.S. Bank National Association
(the trustee under the indenture governing the LYONs) to be forwarded to
holders of the LYONs who wish to tender their LYONs for purchase by XL.
In accordance with the terms of the indent...
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