RenaissanceRe prices $750M 5.750% Senior Notes due 2033 to fund Validus acquisition

RENAISSANCERE HOLDINGS LTD

Issued $750M of 5.750% Senior Notes due 2033; offering closed June 5, 2023.
Proceeds will partially fund the Validus Acquisition from AIG and pay related costs.
Notes rated A3 (Moody's), BBB+ (S&P), A- (Fitch); joint book-runners: Morgan Stanley, Barclays, HSBC, Wells Fargo, BofA.
Bridge commitments from Morgan Stanley Senior Funding terminated upon closing.
Offered under shelf registration S-3 filed May 22, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RENAISSANCERE HOLDINGS LTD entered into Second Supplemental Indenture with Deutsche Bank Trust Company Americas (effective 2023-06-05).

Action: entry
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Effective: 2023-06-05

Exact text from the filing

On June 5, 2023, the Company, as issuer, and Deutsche Bank Trust Company Americas (“Deutsche Bank”), as trustee, entered into a second supplemental indenture (the “Second Supplemental Indenture”) to that certain Senior Indenture, by and between the Company, as issuer, and Deutsche Bank, as trustee, dated as of April 2, 2019 (the “Senior Base Indenture”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RENAISSANCERE HOLDINGS LTD entered into Underwriting Agreement with Morgan Stanley & Co. LLC, Barclays Capital Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC valued at $750,000,000 aggregate principal amount (effective 2023-05-31).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC, Barclays Capital Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC
Value: $750,000,000 aggregate principal amount
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, RenaissanceRe Holdings Ltd. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC, Barclays Capital Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC, on behalf of themselves and as representatives of the underwriters named therein.

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RENAISSANCERE HOLDINGS LTD filing history →

Source: SEC EDGAR

accession 0001193125-23-160818

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