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.