RGA completes $700M 6.650% subordinated debenture offering due 2055

REINSURANCE GROUP OF AMERICA INC

Issued $700M aggregate principal of 6.650% Fixed-Rate Reset Subordinated Debentures due Sept 15, 2055.
Net proceeds approximately $693M; interest at 6.650% through Sept 15, 2035, then resets at Five-Year Treasury Rate + 2.392%.
Proceeds to be used for general corporate purposes, including funding the previously announced Equitable Holdings reinsurance transaction.
Debentures are unsecured and subordinated, ranking equally with existing subordinated debentures due 2056 and 2052.

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