XL Capital announced on Friday that it plans to sell up to $500 million of senior notes due 2012 through XL Capital Finance (Europe) plc., a wholly owned subsidiary of XL. These will be sold pursuant to XL's current effective shelf registration statement. The underwriters for XL's senior notes offering are Salomon Smith Barney and JP Morgan, as joint book runners, Bank of America Securities LLC, Barclays Capital and Credit Lyonnais Securities. The net proceeds from the sale of senior notes will be used to repay XL's outstanding five-year revolving credit facilities and for general corporate purposes, which may include share repurchases and acquisitions.