Simpson Thacher Represents Underwriters in $700 Million Subordinated Debenture Offering and Dealer Managers in Cash Tender Offer by Reinsurance Group of America
10.05.22
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The Firm represented the underwriters in connection with a registered offering by Reinsurance Group of America, Incorporated (“RGA”) of $700 million aggregate principal amount of 7.125% Fixed-Rate Reset Subordinated Debentures due 2052 (the “Debentures Offering”).
The Firm also represented the dealer managers in connection with a concurrent cash tender offer (the “Tender Offer”) by RGA to purchase any and all of its outstanding 6.20% Fixed-to-Floating Rate Subordinated Debentures due 2042 (the “Tender Debentures”). The Tender Offer was funded by the net proceeds from the Debentures Offering.
RGA is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA is one of the world’s largest and most respected reinsurers and is guided by a fundamental purpose: to make financial protection accessible to all. RGA is widely recognized for superior risk management and underwriting expertise, innovative product design, and dedicated client focus. RGA serves clients and partners in key markets around the world and has approximately $3.4 trillion of life reinsurance in force and assets of $84.6 billion as of June 30, 2022.
The Simpson Thacher team included Lesley Peng, Ben Carson, Bethany Wong and Shin Song (Capital Markets); Jonathan Cantor and Lina Pan (Tax); Jeanne Annarumma and Pasco Struhs (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); and Andrew Pagliughi (FINRA and Blue Sky).