Preferred Stock Offerings
By Ru Back Packer Staff, updated Sunday, January 28, 1:55 PM
Slide #346. PartnerRe Ltd. — Preferred Stock Offering
||PartnerRe Ltd. (PRE)
|Preferred Stock Offering Details:
||PartnerRe Ltd. (NYSE:PRE) today announced that it has priced an offering of 5.875% Series F Non-Cumulative Redeemable Preferred Shares (the "Series F preferred shares"). The offering is expected to close on February 14, 2013, subject to customary closing conditions. In the offering, PartnerRe expects to issue 10 million shares ($250 million) of Series F preferred shares. PartnerRe intends to apply for listing of the Series F preferred shares on the New York Stock Exchange. If the application is approved, trading is expected to begin within 30 days of issuance under the symbol "PRE PrF". The Series F preferred shares will pay dividends, when, as and if declared, at an annual dividend rate of 5.875% and will have a liquidation preference and redemption value of $25.00 per share. The Company may redeem these shares at any time on or after March 1, 2018.
PartnerRe is a holding company. Co. predominantly provides reinsurance on a worldwide basis, and certain specialty insurance lines, through its subsidiaries. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multiline and other lines, mortality, longevity, accident and health and alternative risk products. Co.'s alternative risk products include weather and credit protection to financial, industrial and service companies on a worldwide basis. Co. has three segments, Non-life, Life and Health, and Corporate and Other.
Preferreds: PRE.PRC, PRE.PRD, PRE.PRE, PRE.PRF, PRE.PRI, PRE.PRH
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