AXIS Capital Prices Offering of $300.0 Million of 3.900% Senior Notes Due 2029
AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS) announced today that its subsidiary, AXIS Specialty Finance LLC (the “Issuer”), has priced an offering of $300.0 million aggregate principal amount of 3.900% Senior Notes due 2029, fully and unconditionally guaranteed by AXIS Capital, pursuant to an effective shelf registration statement.
The Issuer intends to use the proceeds from the notes offering for the partial repayment or redemption of its 5.875% Senior Notes due 2020. The offering is expected to close on June 19, 2019, subject to customary closing conditions.
Wells Fargo Securities, LLC and HSBC Securities (USA) Inc. are the joint book-running managers for the offering.
A registration statement relating to the offering has been filed with the U.S. Securities and Exchange Commission and is effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering may be made only by means of a prospectus supplement and the accompanying prospectus.
Copies of the prospectus supplement and the accompanying prospectus for the offering may be obtained free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may also be obtained by contacting Wells Fargo Securities, LLC at (800) 645-3751 and HSBC Securities (USA) Inc. at (866) 811-8049.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at March 31, 2019 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada, and Latin America. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A+" ("Superior") by A.M. Best.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. Forward-looking statements contained in this press release may include, but are not limited to our expectations regarding market conditions and information regarding our estimates of losses related to natural disasters. These statements involve risks, uncertainties and assumptions. Actual events or results may differ materially from our expectations. Important factors that could cause actual events or results to be materially different from our expectations include but are not limited to, the following: