HAMILTON, Bermuda--(BUSINESS WIRE)--
Everest Re Group, Ltd. (NYSE:RE) announced today that on its
wholly-owned subsidiary, Everest Reinsurance Holdings, Inc (Holdings),
priced a public offering of $400 million of 4.868% Senior Notes due
2044, pursuant to its currently effective shelf registration statement.
The net proceeds will be utilized to retire existing debt at Holdings,
which is coming due in October, 2014, as well as for general corporate
The offering was underwritten by a syndicate, which included Wells Fargo
Securities, Citigroup Global Markets, and HSBC, as well as Deutsche Bank
Securities Inc., Barclays Capital Inc., and JP Morgan Securities acting
as co-Senior Managers, and ING, Lloyds, Bank of America Merrill Lynch
and Bank of New York Mellon acting as co-Managers.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to the registration or qualification under
the securities laws of any such jurisdiction.
Everest Re Group, Ltd. is a Bermuda holding company that operates
through the following subsidiaries: Everest Reinsurance Company provides
reinsurance to property and casualty insurers in both the U.S. and
international markets. Everest Reinsurance (Bermuda), Ltd., including
through its branch in the United Kingdom, provides reinsurance and
insurance to worldwide property and casualty markets and reinsurance to
life insurers. Everest Reinsurance Company (Ireland), Limited provides
reinsurance to non-life insurers in Europe. Mt. Logan Re, a segregated
cell company, capitalized by the Company and third party investors, is a
specialty reinsurer of catastrophe risks. Everest National Insurance
Companyand Everest Security Insurance Company provide property and
casualty insurance to policyholders in the U.S. Everest Indemnity
Insurance Company offers excess and surplus lines insurance in the U.S.
Everest Insurance Company of Canada provides property and casualty
insurance to policyholders in Canada. Additional information on Everest
Re Group companies can be found at the Groupís web site at www.everestregroup.com.
Everest Global Services, Inc.
Elizabeth B. Farrell, 908-604-3169
President, Investor Relations
Source: Everest Re Group, Ltd.