Bermudian-based RenaissanceRe Holdings Ltd has agreed to sell in an underwritten public offering $500 million aggregate principal amount of 5.8 per cent senior notes due in 2035.

The company said it expects to close the offering on or about February 25, subject to the satisfaction of customary closing conditions.

RenRe said it intends to use the net proceeds from this offering for general corporate purposes, which may include the redemption, repayment or refinancing of certain indebtedness.

The company said the senior notes are expected to be rated A3 by Moody’s Investors Service, BBB+ by Standard & Poor’s, and A- by Fitch Ratings.

Barclays, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo Securities served as joint book-running managers.