April 2, 2010 (FinancialWire) — RAM Holdings, Ltd. (BSX: RAMR) (OTC: RAMR) has reported the repurchase of $10.0 million of its $35.0 million 6.875% senior notes due 2024 for $5.5 million, claiming a gain of $4.5 million.

The senior notes that were repurchased were cancelled immediately after such repurchase.

Following the settlement of the repurchase, around $25.0 million of the senior notes remain outstanding, according to RAM.

Bermuda-based RAM Holdings’ operating subsidiary, RAM Reinsurance Co. Ltd., provides financial guaranty reinsurance for U.S. and international public finance and structured finance transactions.

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