RenRe Pricing: $300 Million Senior Note Offering
Bermuda-based RenaissanceRe Holdings Ltd. announced that its subsidiary, RenaissanceRe Finance Inc., has agreed to sell in an underwritten public offering $300 million aggregate principal amount of 3.700% Senior Notes due 2025.
The notes are guaranteed by RenaissanceRe Holdings Ltd. The Company expects to close the offering on or about March 24, 2015, subject to customary closing conditions.
RenaissanceRe Holdings Ltd. intends to use the net proceeds from the offering to repay the $300 million term loan which was put in place to finance a portion of the cash consideration payable by RenaissanceRe in the acquisition of Platinum Underwriters Holdings, Ltd.
Morgan Stanley & Co. LLC and Barclays Capital Inc. served as joint book-running managers; Wells Fargo Securities, LLC and Citigroup Global Markets Inc. served as joint lead managers; and HSBC Securities [USA] Inc. served as a senior co-manager for the offering
I will presume that a person becomes a senior at say 65.
Many seniors will not live that long.
I wonder in WW 111 will be over by 2025.
3.7 % does not suggest that there will not be much improvement in the global economy.