Bermuda reinsurer PartnerRe Ltd. announced yesterday it is to raise an estimated $250 million by issuing shares in the company.

It said it is offering $200 million in trust preferred and $150 million in mandatory convertible preferred securities (PEPS Units) and the offerings will be lead managed by Morgan Stanley & Co.

Partner Re said the proceeds from the sale of the trust preferred securities and the PEPS Units will be used for general corporate purposes. For more information see www.partnerre.com