AXIS Capital Holdings Releases Senior Notes

Bermuda-based AXIS Capital Holdings Limited announced that its indirect, wholly-owned subsidiary, AXIS Specialty Finance PLC, has priced an offering of $250.0 million aggregate principal amount of its 2.650% Senior Notes due 2019 and $250.0 million aggregate principal amount of its 5.150% Senior Notes due 2045, fully and unconditionally guaranteed by AXIS Capital, pursuant to an effective shelf registration statement. Net proceeds from this offering will be used to repay AXIS Capital’s 5.75% senior notes due 2014.

AXIS Capital has applied for the notes to be admitted to the Official List of the Irish Stock Exchange and traded on the Global Exchange Market. If the application is approved, trading in the notes is expected to commence within 30 days after the initial delivery of the notes.

Barclays Capital Inc., Citigroup Global Markets Inc. and HSBC Securities [USA] Inc., will act as joint book-running managers for the offering. A registration statement relating to the offering has been filed with the SEC.

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