AXIS Capital Prices $500 Million of Senior Notes
Bermuda-based global provider of specialty lines insurance and treaty reinsurance AXIS Capital is issuing $500 million in notes.
AXIS Capital Holdings Limited announced on March 18 that its indirect, wholly-owned subsidiary, AXIS Specialty Finance LLC, has priced an offering of $500 million aggregate principal amount of its 5.875% Senior Notes due 2020, fully and unconditionally guaranteed by AXIS Capital Holdings Limited, pursuant to an effective shelf registration statement.
Net proceeds from this offering will be used for general corporate purposes.
The joint bookrunning managers for the debt sale are Barclays Capital, Deutsche Bank Securities and Wells Fargo Securities. A registration statement relating to the proposed offering has been filed with the SEC.
In addition to Bermuda, AXIS Capital has locations in the United States, Europe, Singapore, Canada and Australia.
