Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, in an offering of $400 million in aggregate principal amount of 5.75% Fixed-to-Floating Rate Subordinated Debentures due 2056 by Reinsurance Group of America, Incorporated (“RGA”).
Simpson Thacher also represented the underwriters, led by Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill, Lynch, Pierce, Fenner & Smith Incorporated and U.S. Bancorp Investments, Inc., in an offering of $400 million in aggregate principal amount of 3.95% Senior Notes due 2026 by RGA.
The net proceeds of the offerings will be used to repay RGA’s 5.625% Senior Notes due 2017, with the remainder to be used for general corporate purposes.
RGA is a leading global provider of traditional and non-traditional life and health reinsurance with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. Worldwide, RGA has approximately $3.1 trillion of assumed reinsurance in force, and assets of $52.2 billion.
The Simpson Thacher team included Gary Horowitz, Lesley Peng, Alex Coedo and Edward Bersuder (Capital Markets); Steven DeLott (Insurance); Jonathan Cantor and Michelle Goldring (Tax); David Rubinsky and Eric Wolf (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).