Fitch rates RenRe Finance notes A-

Fitch Ratings said it assigned an A- rating to the $300 million 3.7% senior unsecured notes due April 1, 2025 issued by RenaissanceRe Finance Inc.

RenRe Finance is a wholly owned subsidiary of RenaissanceRe Holdings Ltd. (RNR), and RNR has fully and unconditionally guaranteed the notes on a senior unsecured basis.

Proceeds will be used to repay a $300 million term loan that was put in place to finance a portion of the cash consideration for the acquisition of Platinum Underwriters Holdings, Ltd., which closed on March 2.

On March 17, RenRe Finance became the direct and indirect owner of the equity interests of entities comprising Platinum’s U.S. insurance operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.