Davis Polk is advising PartnerRe Ltd. (PartnerRe) in connection with a cash tender offer by PartnerRe Finance II Inc. (PartnerRe Finance), an indirect, wholly owned subsidiary of PartnerRe, for up to $250 million aggregate principal amount of PartnerRe Finance’s outstanding 6.440% fixed-to-floating-rate junior subordinated capital efficient notes due 2066.

PartnerRe is a leading global reinsurer, providing multiline reinsurance to insurance companies. Through its wholly owned subsidiaries, PartnerRe also offers capital markets products that include weather and credit protection to financial, industrial and service companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multiline and other lines, life/annuity and health, and alternative risk products.

The Davis Polk corporate team includes partners Richard A. Drucker and Richard J. Sandler, counsel Courtenay U. Myers and associates Shih-Jern Liang and Hilde M. Matthee (not yet admitted). Partner Lucy W. Farr and associates Joanna Mörk and Ethan R. Goldman (not yet admitted) are providing tax advice. All members of the Davis Polk team are based in the New York office.