RenaissanceRe Holdings Ltd. announced today that it has agreed to sell $500 million aggregate principal amount of 5.800% Senior Notes due 2035 in an underwritten public offering. The offering is expected to close on or about February 25, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from this offering for general corporate purposes, which may include the redemption, repayment, or refinancing of certain indebtedness. This strategic financing move enhances RenaissanceRe's liquidity and capital management capabilities.
The senior notes are expected to receive strong investment-grade ratings, including A3 by Moody’s Investors Service, BBB+ by Standard & Poor’s, and A- by Fitch Ratings. Barclays, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo Securities served as joint book-running managers for the offering.
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