AXIS Partially Redeems 7.25% Series
Bermuda-based AXIS Capital Holdings Limited yesterday [Mar.19] announced that it will redeem 6,000,000 of its 7.25% Series A Preferred Shares, par value $0.0125 per share and liquidation preference $25.00 per share, representing $150,000,000 in aggregate liquidation preference of Preferred Shares, on April 18, 2012 at a redemption price equal to $25.00 per Preferred Share, without accumulation of any undeclared dividends.
The Preferred Shares are currently traded on the New York Stock Exchange under the symbol AXSprA.
Payment of the redemption price will be made upon presentation and surrender of Preferred Shares to be redeemed to Computershare Shareowner Services, Redemption Agent, by hand or by overnight delivery at 480 Washington Boulevard, 27th floor, Jersey City, New Jersey 07310, USA Attention: Reorg Dept., or by mail at P.O. Box 3301, South Hackensack, New Jersey 07606, USA.
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2011 of $5.4 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America.
Its operating subsidiaries have been assigned a rating of “A+” ][“Strong”] by Standard & Poor’s and “A” [“Excellent”] by A.M. Best.
