REINSURANCE GROUP OF AMERICA INC (RGA): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

REINSURANCE GROUP OF AMERICA INC incurred senior notes of $700 million with The Bank of New York Mellon Trust Company, N.A. at 6.650% per annum maturing September 15, 2055.

Instrument: senior notes
Principal: $700 million
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 6.650% per annum
Maturity: September 15, 2055
Event: incurrence

Exact text from the filing

On March 3, 2025, Reinsurance Group of America, Incorporated (the "Company") completed the offering of $700 million aggregate principal amount of its 6.650% Fixed-Rate Reset Subordinated Debentures due 2055 (the "Debentures").

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Source: SEC EDGAR

accession 0001193125-25-044106

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