RenRe’s DaVinciRe To Issue $300M Senior Notes
RenaissanceRe’s joint venture, DaVinciRe, is set to issue $300 million in 5.950% Senior Notes due 2035, with proceeds intended for general corporate use, including debt repayment.
A spokesperson said, “RenaissanceRe Holdings Ltd. announced today that its joint venture, DaVinciRe Holdings Ltd has agreed to sell in a private debt offering $300 million aggregate principal amount of 5.950% Senior Notes due 2035. The offering is expected to close on or about March 5, 2025, subject to the satisfaction of customary closing conditions.
“DaVinci intends to use the net proceeds from the offering for general corporate purposes, including the repayment of the $150 million outstanding principal amount of DaVinci’s 4.750% Senior Notes due 2025. We and DaVinci expect the senior notes to be rated Baa1 by Moody’s Investors Service and A- by Standard & Poor’s.”
