May 23, 2013
RenaissanceRe Holdings Ltd. announces offering of 5.375% Series E Preference Shares.
On May 20, Willkie client RenaissanceRe Holdings Ltd. announced it has agreed to sell in an underwritten public offering $275 million aggregate liquidation preference of its 5.375% Series E Preference Shares, or 11 million shares, with a liquidation preference of $25 per share. Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are serving as joint book-running managers for the offering, which is expected to close on May 28. Based in Bermuda, RenaissanceRe is a global provider of reinsurance and insurance. The deal was handled by partners Robert Stebbins and Henry Cohn; of counsel Arthur Lynch and associates Sean Ewen, Joseph Antignani, Christopher Wall and Tyler Ladner.