PartnerRe Completes Preferred Shares Offering
PartnerRe Ltd. announced that it has completed its offering of 8 million shares of its 4.875% Fixed Rate Non-Cumulative Redeemable Preferred Shares, Series J, for gross proceeds of $200 million.
“The Series J Preferred Shares, which have a liquidation value of $25.00 per share, are expected to trade on the New York Stock Exchange under the symbol “PRE PR J,” the company said.
“PartnerRe intends to use the net proceeds from this offering for general corporate purposes, which may include the redemption or repurchase in part of PartnerRe’s issued and outstanding preferred shares.”
