PEMBROKE, Bermuda–(BUSINESS WIRE)–PartnerRe Ltd. (“PartnerRe”) announced today that its subsidiary,
PartnerRe Finance B LLC (“PRE Finance B”), has priced a registered
public offering in the United States of $500 million aggregate principal
amount of 3.700% Senior Notes due July 2, 2029 (the “Notes”). The Notes
were priced at 99.783% of par. Closing of the offering of the Notes is
expected to occur on June 19, 2019, subject to customary closing
conditions. The Notes will be senior unsecured obligations of PRE
Finance B and are fully and unconditionally guaranteed by PartnerRe.
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.
Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc.,
Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. are the joint
book-running managers for the offering. BMO Capital Markets Corp.,
Barclays Capital Inc., Credit Suisse Securities (USA) LLC and
nabSecurities, LLC are the co-managers for the offering.
This press release is for informational purposes only and does not
constitute an offer to sell or a solicitation of an offer to buy, nor
shall there be any sale of any of the securities described herein in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction. The securities being offered have not been approved
or disapproved by any regulatory authority, nor has any such authority
passed upon the accuracy or adequacy of the prospectus supplement or the
shelf registration statement or prospectus.
PartnerRe has filed a registration statement (including a prospectus and
a related preliminary prospectus supplement) with the U.S. Securities
and Exchange Commission (“SEC”) for the offering to which this
communication relates. Before you invest, you should read the
preliminary prospectus supplement and prospectus in that registration
statement and other documents that PartnerRe has filed with the SEC for
more complete information about PartnerRe and this offering. You may get
these documents for free by visiting EDGAR on the SEC’s website at http://www.sec.gov
Alternatively, copies of the preliminary prospectus supplement and
accompanying prospectus for the offering may be obtained by contacting
Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Credit
Agricole Securities (USA) Inc. toll-free at 1-866-807-6030, Goldman
Sachs & Co. LLC toll-free at 1-866-471-2526 or HSBC Securities (USA)
Inc. toll-free at 1-866-811-8049.
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
which are made pursuant to the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. These
statements are based on the beliefs and assumptions of our management.
Generally, forward-looking statements include information concerning
possible or assumed future actions, events or our results of operations.
Forward-looking statements are subject to significant business, economic
and competitive risks and uncertainties that could cause actual results
to differ, potentially materially, from those reflected in such
forward-looking statements. Forward-looking statements are not
guarantees of performance. We caution that undue reliance should not be
placed on any forward-looking statements, which speak only as of the
date of this press release. We do not undertake any duty or
responsibility to update any of these forward-looking statements to
reflect events or circumstances after the date of this press release or
to reflect actual outcomes. Additional factors that may affect future
results and conditions are described in our filings with the SEC,
including our Annual Report on Form 20-F for the year ended December 31,
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.
Media: Celia Powell