Davis Polk & Wardwell LLP advised PartnerRe Ltd. and PartnerRe Finance B LLC on an SEC-registered offering of $500 million aggregate principal amount of 5.5% senior notes due 2020 by PartnerRe Finance B LLC, fully and unconditionally guaranteed by PartnerRe Ltd. The offering was made through an underwriting syndicate led by Banc of America Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC.

PartnerRe Ltd., a Bermudan international reinsurance group, is a leading global reinsurer, providing multi-line reinsurance to insurance companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multi-line and other lines, and life/annuity and health. PartnerRe Ltd., through its wholly owned subsidiaries, also offers alternative risk products that include weather and credit protection to financial, industrial and service companies on a worldwide basis.

PartnerRe Finance B LLC, a Delaware limited liability company, is an indirectly wholly owned subsidiary of PartnerRe Ltd.

The Davis Polk corporate team included partners Richard J. Sandler and Ethan T. James, counsel Courtenay U. Myers and associates Aaron R. Page and Michelle B. Galdos (not yet admitted). Partner Neil Barr and associate Ethan R. Goldman provided tax advice. Counsel Erin K. Cho provided ERISA advice. Charisma J. Loney was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office, except for Ms. Cho who is based in Washington DC.