RenRe to Sell Preferred Shares

Bermuda’s RenaissanceRe Holdings Ltd. has launched a public offering to sell a new series of preference shares. RenRe said it “anticipates using the net proceeds from the offering to redeem all of its outstanding 8.10 percent Series A Preference Shares as soon as practicable following completion of the offering and to redeem all of its outstanding 8.54 percent Junior Subordinated Deferrable Interest Debentures as soon as practicable on or after March 1, 2007.

“Citigroup Corporate and Investment Banking and Wachovia Capital Markets, LLC are joint-book running managers for the offering. A shelf registration statement relating to the offering was originally filed with the U.S. Securities and Exchange Commission on July 9, 2004 and has since been declared effective. The offering will be made pursuant to a prospectus, including a prospectus supplement, forming a part of the effective shelf registration statement.”

Source: RenRe