RenaissanceRe eyes $300 million offering of 10-year senior notes

By Aleesia Forni

Virginia Beach, March 19 – RenaissanceRe Finance Inc. is planning to price a $300 million issue of senior notes due 2025, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be fully and unconditionally guaranteed by RenaissanceRe Holdings Ltd.

The bookrunners are Morgan Stanley & Co. LLC and Barclays.

Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the joint lead managers.

HSBC Securities (USA) Inc. is a senior co-manager.

Proceeds will be used to repay a bridge loan used to finance a portion of the company’s acquisition of Platinum Underwriters Holdings, Ltd.

RenaissanceRe is a Hamilton, Bermuda-based reinsurance company.

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