PartnerRe sells $200m in preferred shares – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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PartnerRe sells $200m in preferred shares

Capital raise: PartnerRe, which has offices in Pembroke, has raised $200 million through the issue of eight million preferred shares (File photograph by Akil Simmons)

PartnerRe Ltd has raised $200 million through the issue of eight million 4.875 per cent preferred shares.

The Bermudian-based re/insurer said 4.875 per cent fixed rate non-cumulative redeemable preferred shares, Series J have a liquidation value of $25 per share and are expected to trade on the New York Stock Exchange under the symbol “PRE PR J”.

PartnerRe plans to use the net proceeds for general corporate purposes, which may include the redemption or repurchase in part of PartnerRe’s issued and outstanding preferred shares.

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Published March 15, 2021 at 2:13 pm (Updated March 15, 2021 at 2:14 pm)

PartnerRe sells $200m in preferred shares

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