CD&P Acts For AXIS On $200 Million Offering
Hamilton legal firm Conyers Dill & Pearman [CD&P] has provided Bermuda law advice to AXIS Capital Holdings on its offering of $200 million of its 5.5 percent Series D preferred shares.
The offering was made pursuant to an effective shelf registration statement and closed on 20 May.
In addition, AXIS Capital — the Bermuda-based holding company of the AXIS group of companies — granted a 30-day option to the underwriters to buy up to 1.2 million additional Series D preferred shares.
The proceeds from the $200 million issuance were deployed to redeem the outstanding Series A preferred securities of AXIS Capital and for general corporate purposes, including share buybacks.
CD&P worked alongside New York-based Simpson Thacher & Bartlett. Cravath, Swaine & Moore acted for the underwriters. The Conyers team was made up of Graham Collis, Jason Piney and Chiara Nannini.
The most interesting thing I’ve read all day.