Everest Re raises $1bn via bond issue

Everest Reinsurance Holdings (ERH), a wholly-owned subsidiary of Everest Re Group, has priced a registered public offering of $1.0 billion aggregate principal amount of 3.500 percent senior notes due 2050.

The offering is expected to close on October 7, 2020, subject to customary closing conditions. ERH said it plans to use the net proceeds for general corporate purposes.

The offering of the Notes is being made only by means of a prospectus supplement and accompanying prospectus which are part of a shelf registration statement filed with the Securities and Exchange Commission.

Wells Fargo Securities, Citigroup Global Markets and HSBC Securities are acting as joint book-running managers for the offering.