Reinsurance Group of America Inc. (RGA) is issuing $400 million in senior secured notes.
RGA, Chesterfield, Mo. (NYSE:RGA), says the notes will be due in 2021, have an issue price of 99.447%, and pay a fixed interest rate of 5%.
RGA is selling the bonds through a public offering and expects to complete the sale May 27.
RGA will use some of the proceeds to pay off $200 million senior notes that mature in December, and it will use the rest for general corporate purposes, the company says.