Bermuda-based Primus Guaranty said yesterday it had priced an offering of $125 million of 30-year senior notes. The notes, which were sold in an underwritten public offering, have a fixed interest rate of seven percent. The notes are expected to be rated Baa1 and BBB+ by Moody?s Investors Services and Standard & Poor?s, respectively, at the time of issuance, the company said.

The surety guaranty reinsurer said it intends to use the net proceeds from the sale of the senior notes as additional capital to support its businesses and for other general corporate purposes.