The London office of Debevoise & Plimpton LLP has advised PartnerRe Ltd. (“PartnerRe”) in its €750 million, 10-year debut Eurobond offering, with a fixed rate of 1.25%.

PartnerRe intends to use the proceeds of the offering to redeem Series D 6.5% and Series E 7.25% preferred shares, to refinance a $250 million bond at 6.875% due in 2018, and for general corporate purposes.

The offering, which collected orders in excess of €3 billion including from leading institutional investors in Asia-Pacific, represent the first issuance ever of a Bermuda insurer and reinsurer in the Euro-denominated bond market.

PartnerRe is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through PartnerRe’s three business segments: Property & Casualty, Specialty Lines and Life & Health.

The Debevoise team advising PartnerRe was led by London partner James C. Scoville, and included international counsel Vera Losonci and associate Ali Sikander. Tax advice was provided by New York partner Burt Rosen, London international counsel Cécile Beurrier, and associate Patrick Fasoro.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.