Aspen Prices $300 Million Of Senior Notes
Bermuda-based Aspen Insurance Holdings Limited has priced $300 million of 4.650% senior notes due 2023. The Notes pay interest semi-annually on May 15 and November 15 and will mature on November 15, 2023.
Aspen intends to use the net proceeds to pay the redemption price on its $250 million aggregate principal amount outstanding of 6.00% senior notes due August 15, 2014 and to pay related fees, expenses and premiums.
Any remaining net proceeds from the offering may be used for general corporate purposes. The closing of the offering is expected to occur on November 13, 2013, subject to certain customary conditions. Barclays, Citigroup, Deutsche Bank Securities and HSBC are acting as joint book-running managers for the offering.
