RenaissanceRe raises debt, preferred, stock, units shelf to $564.25 million

New York, Feb. 25 - RenaissanceRe Holdings Ltd. filed a $500 million shelf registration with the Securities and Exchange Commission for total availability of $564.25 million, including previously registered but unsold securities.

The shelf covers debt securities, common and preference shares, warrants, share purchase contracts and units and trust preferred securities. The securities may be structured as convertibles.

The Pembroke, Bermuda property catastrophe reinsurer said it would use proceeds for working capital, capital expenditures, acquisitions and other general corporate purposes unless specified otherwise at the time of sale.

For the year to Dec. 31, 2001, RenaissanceRe had an earnings to fixed charge ratio of 12.37 times compared to 6.25 times for 2000.

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