RenRe Public Offering Of Depositary Shares
Bermuda-based RenaissanceRe Holdings has agreed to sell in an underwritten public offering 10,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a share of its 5.75% Series F Preference Shares, $1.00 par value and $25,000 liquidation preference per share [equivalent to $25 per Depositary Share].
The public offering price is $25 per Depositary Share for an aggregate public offering price of $250 million. RenaissanceRe currently expects to consummate the sale to the underwriters on June 18, 2018, subject to customary closing conditions. RenaissanceRe anticipates using the net proceeds from the offering for general corporate purposes. RenaissanceRe intends to have the Depositary Shares listed on the New York Stock Exchange under the symbol “RNRPRF.”
