PartnerRe raises $200m in series J share issue

PartnerRe has completed its offering of 8 million shares of its series J 4.875 percent fixed rate non-cumulative redeemable preferred shares for gross proceeds of $200 million.

PartnerRe will use the proceeds for general corporate purposes, potentially including the redemption or repurchase in part of PartnerRe’s issued and outstanding preferred shares.

The series J preferred shares, which have a liquidation value of $25 per share will trade on the New York Stock Exchange.