DaVinciRe Holdings Ltd. Closes 144A Bond Offering

May 5, 2015

Willkie represents DaVinciRe, a joint venture of RenaissanceRe Holdings Ltd., in its $150 million private debt offering.

On April 28, RenaissanceRe Holdings Ltd. announced that its joint venture, DaVinciRe Holdings Ltd., represented by Willkie, agreed to sell $150 million aggregate principal amount of 4.750% Senior Notes due 2025 in a Rule 144A offering to qualified institutional buyers. The offering closed on May 4.  

DaVinciRe Holdings Ltd. is the holding company of DaVinci Reinsurance Ltd., which writes principally property catastrophe reinsurance. Both DaVinciRe Holdings Ltd. and DaVinci Reinsurance Ltd. are managed by Renaissance Underwriting Managers, Ltd., a part of the ventures unit of RenaissanceRe Holdings Ltd.

The deal was handled by partners Robert Stebbins and Leslie Mazza, and associates Theodore Neos, Evan Goodman, Margaret McSpadden, James Rosenthal and Stephanie Moran.