By Andrea Heisinger
New York, Dec. 7 - Aspen Insurance Holdings Ltd. sold $250 million of 6% 10-year senior notes on Tuesday at a spread of Treasuries plus 290 basis points, an informed source said.
The notes (Baa2/BBB+/) priced at 99.65 to yield 6.047%. They have a make-whole call at Treasuries plus 45 bps.
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the bookrunners.
Co-managers were Barclays Capital Inc., Bank of New York Mellon Capital Markets Corp. and Credit Agricole Securities USA Inc.
Proceeds are going toward general corporate purposes.
The holding company for insurance and reinsurance subsidiaries is based in Bermuda.
| Issuer: | Aspen Insurance Holdings Ltd.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | Dec. 15, 2020
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Co-managers: | Barclays Capital Inc., Bank of New York Mellon Capital Markets Corp., Credit Agricole Securities USA Inc.
|
| Coupon: | 6%
|
| Price: | 99.65
|
| Yield: | 6.047%
|
| Spread: | Treasuries plus 290 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | Dec. 7
|
| Settlement date: | Dec. 10
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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