Liberty Mutual Tenders Offer to Buy Back 2007 Debt

Liberty Mutual Insurance Company ("Liberty Mutual") announced yesterday that it has priced its tender offer for up to $130 million in aggregate principal amount of its outstanding 8.20% Surplus Notes due 2007 (the "Notes") (CUSIP No. 53079QAA5). Upon consummation of the tender offer, Liberty Mutual will pay $1,143.06 for each $1,000 principal amount of Notes purchased in the tender offer, plus accrued but unpaid interest up to, but not including, the settlement date. The purchase price was determined by reference to a fixed spread of 95 basis points over the bid side yield (as quoted on Bl...