RenaissanceRe Holdings Announces partial Redemption of 6.60% Series D Preference Shares
RenaissanceRe Holdings Ltd. (NYSE: RNR) announced today that it has decided to call 6,000,000 of its outstanding 6.60% Series D Preference Shares (NYSE: RNRPRD; CUSIP: G7498P 40 8) for mandatory redemption on December 27, 2012. The redemption price will be $25 per Series D Preference Share, plus accrued and unpaid dividends to December 27, 2012.
The Depository Trust Company (DTC), the securities' holder of record, will determine by random lottery how the partial redemption will be allocated, in accordance with DTC's rules and procedures. On and after the redemption date, the Series D Preference Shares that are redeemed will no longer be deemed to be outstanding, dividends on such Series D Preference Shares will cease to accrue, and all rights of the holders of such Series D Preference Shares will cease, except for the right to receive the redemption price, without interest thereon, upon surrender of such Series D Preference Shares.
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