AXIS Capital Results: Series B Tender Offer
Bermuda-based AXIS Capital Holdings Limited announced the final results of its tender offer for any and all of its outstanding 7.50% Series B Preferred Shares, par value $0.0125 per share and liquidation preference $100.00 per share , which expired at 12:01am [New York City time] on Tuesday, April 10, 2012.
AXIS Capital has accepted for purchase an aggregate of 2,461,150 Series B Preferred Shares, representing $246,115,000 in aggregate liquidation preference, at a purchase price of $102.81 per Series B Preferred Share, for an aggregate cost of $253,030,831.50. Following the completion of the tender offer 38,850 Series B Preferred Shares, representing $3,885,000 in aggregate liquidation preference, remain outstanding.
The tender offer was made pursuant to the Offer to Purchase and Letter of Transmittal, each dated March 12, 2012, that were filed as exhibits to the Schedule TO filed with the Securities and Exchange Commission on March 12, 2012, as amended on March 23, 2012.
Wells Fargo Securities was the Dealer Manager and D.F. King & Co., Inc. was the information agent and tender agent for the tender offer
