6 October 2020Insurance

Everest Re to raise $1bn from debt issue

Bermuda-based Everest Re Group's wholly-owned subsidiary Everest Reinsurance Holdings has priced a public offering of $1 billion aggregate principal amount of 3.500 percent senior notes due 2050.

The offering is expected to close on October 7, 2020.

The company plans to use the net proceeds for general corporate purposes.

Wells Fargo Securities, Citigroup Global Markets and HSBC Securities (USA) are acting as joint book-running managers for the offering.

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Everest Re CEO highlights 'strong forward momentum' after H1 profit plunges

6 August 2020 Juan Andrade says the company has 'more than ample capital' to take advantage of current and future opportunities.

Everest faces $300m cat hit in Q3 but bullish on earnings

23 October 2020 The re/insurer is expecting to report 'significant' net income for the third quarter 2020.

Everest Re’s Andrade hails Q3 results as premiums and profits surge

30 October 2020 The CEO believes Everest is benefitting from the improving market and 'a flight to quality'.

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