RenRe Announces Redemption Of Shares
RenaissanceRe Holdings Ltd. announced that it has decided to call all 11,000,000 of its outstanding 5.375% Series E Preference Shares for mandatory redemption on August 11, 2021.
A spokesperson said, “The redemption price will be $25.00 per Series E Preference Share, plus accrued and unpaid dividends to August 10, 2021. The Company will use a portion of the proceeds of its previously announced offering of depositary shares, each representing a 1/1,000th interest in a 4.20% Series G Preference Share, which closed July 12, 2021, to redeem the Series E Preference Shares.
“All of the outstanding Series E Preference Shares will be called for redemption. On and after the redemption date, the Series E Preference Shares so redeemed will no longer be deemed to be outstanding, dividends on such Series E Preference Shares will cease to accrue, and all rights of the holders of such Series E Preference Shares will cease, except for the right to receive the redemption price, without interest thereon, upon surrender of such Series E Preference Shares.”
