The Firm represented the underwriters in connection with a registered offering by Reinsurance Group of America, Incorporated (“RGA”) of 6,172,840 shares of RGA’s common stock for gross proceeds of approximately $484 million. RGA intends to use the net proceeds of the common stock offering for general corporate purposes.
The Firm also represented the underwriters in connection with a registered offering by RGA of $600 million aggregate principal amount of 3.15% Senior Notes due 2030. RGA intends to use the net proceeds of the notes offering to repay, upon maturity, their $400 million 5% senior notes that mature on June 1, 2021, and the remainder for general corporate purposes.
RGA, a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.4 trillion of life reinsurance in force and assets of $75.7 billion as of March 31, 2020. With headquarters in St. Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development and financial solutions.
The Simpson Thacher team included Lesley Peng, Tony Rim and Ki Hoon Kim (Capital Markets); Jonathan Cantor, Tyler Robbins and Zachary Fialkow (Tax); David Rubinsky, Jennifer Neilsson and Eric Wolf (Executive Compensation and Employee Benefits); Steven DeLott (Insurance & Regulatory); and Andrew Pagliughi (Blue Sky).