June 14, 2019
Willkie represented joint book-running managers Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. and other underwriters in the transaction.
On June 12, PartnerRe Ltd. (“PartnerRe”) announced that it priced, through its indirectly wholly owned subsidiary PartnerRe Finance B LLC (“PRE Finance B”), $500 million of 10-year fixed rate 3.700% Senior Notes, pursuant to its currently effective shelf registration statement. Willkie served as counsel to the underwriters led by joint bookrunners Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. The Notes will be fully and unconditionally guaranteed by PartnerRe Ltd. and will have a maturity of July 2, 2029. PRE Finance B intends to use the net proceeds towards the redemption of its outstanding $500 million aggregate principal amount 5.500% Senior Notes due 2020.
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through the company’s three segments: P&C, Specialty, and Life and Health.
The transaction was led by partner Jeffrey Hochman and associates Lindsay Reed and Andrew Kim.
