Athene Holding intends to sell 10-year notes via five bookrunners; price talk emerges

By Mary-Katherine Stinson and Cristal Cody

Lexington, Ky., Dec. 7 – Athene Holding Ltd. expects to sell 10-year senior notes, according to a 424B5 filing with the Securities and Exchange Commission and details from a market source.

Price talk has the notes coming in the 225 basis points area over Treasuries.

The notes have a make-whole call some months before the maturity date and then will be redeemable at par.

Changes in tax law will make the notes redeemable at par.

The bookrunners are Wells Fargo Securities, LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.

U.S. Bank Trust Co., NA is the trustee.

Sidley Austin LLP and Conyers Dill & Pearman Ltd. will serve as counsel for Athene. Fried, Frank, Harris, Shriver & Jacobson LLP will advise the underwriters.

Proceeds will be used for general corporate purposes, including capital contributions to Athene’s insurance subsidiaries to support company growth.

Hamilton, Bermuda-based Athene is a retirement services company that issues, reinsures and acquires retirement savings products.

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