AXIS To Redeem 5.50% Series D Shares

December 19, 2019 | 0 Comments

AXIS Capital Holdings will redeem 9,000,000 of its 5.50% Series D Preferred Shares, par value $0.0125 per share and liquidation preference $25.00 per share [Preferred Shares], constituting all of its outstanding Preferred Shares, representing $225,000,000 in aggregate liquidation preference of Preferred Shares, on January 17, 2020 at a redemption price equal to $25.00 per Preferred Share, plus all declared and unpaid dividends, if any, to, but excluding, the Redemption Date, without accumulation of any undeclared dividends.

The Board also declared a dividend of $0.17569 per Series D 5.50% Preferred Share payable on January 17, 2020 to shareholders of record at the close of business on January 2, 2020. Accordingly, the total redemption price payable on January 17, 2020 will be $25.17569 per Preferred Share.

The Preferred Shares are currently traded on the New York Stock Exchange under the symbol AXSprD [CUSIP G0692U117].

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