HAMILTON, Bermuda, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited ("Enstar") (Nasdaq: ESGR) today announced that its subsidiary, Enstar Finance LLC, priced $350 million aggregate principal amount of 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040 (the "Notes"), fully and unconditionally guaranteed, on a junior subordinated basis, by Enstar. The offering is expected to close on August 26, 2020, subject to satisfaction of customary closing conditions. Enstar intends to use the net proceeds from the offering and available cash on hand to repay approximately $350 million of borrowings outstanding under its term loan facility.