NU Online News Service, Dec. 10, 9:25 a.m. – Reinsurance Group of America Inc., St. Louis, announced today that it intends to raise $425 million by selling $200 million in 10-year senior notes and $225 million in securities convertible into company stock.
The proceeds of the securities offering will be used for general corporate purposes, RGA says. The proceeds from the senior notes offering will be used to repay outstanding borrowings under its $140 million revolving credit facility with a banking syndicate and a $75 million term loan from a subsidiary of MetLife, Inc., New York, RGA's majority shareholder.
