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PartnerRE LTD Prices New Preferred Issue

Insurance company PartnerRE (not publicly traded) has priced their previously announced preferred stock.

The company has priced 8 million shares with a coupon of 4.875%. The issue is investment grade with a BBB rating from Standard and Poor’s and Baa2 from Moody’s.

The issue is non-cumulative, but qualified for preferential tax treatment.

Shares will trade immediately under the temporary OTC grey market ticker PTNPF.

The pricing term sheet can be read here.

2 thoughts on “PartnerRE LTD Prices New Preferred Issue”

  1. Thanks, Tim.

    Correction: 1st call date is 3/15/2026 (not 3/15/2021).
    Note that they do have several conditions that allow them to redeem before this date. The pricing sheet lists these.

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