By Aleesia Forni
Virginia Beach, Nov. 5 - Aspen Insurance Holdings Ltd. sold $300 million of 4.65% 10-year senior notes (Baa2/BBB+/) on Tuesday with a spread of Treasuries plus 200 basis points, according to an informed source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.889 to yield 4.664%.
Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. were the joint bookrunners.
Proceeds will be used to pay the redemption price on the company's 6% senior notes due Aug. 15, 2014. Any remaining net proceeds may be used for general corporate purposes.
The holding company for insurance and reinsurance subsidiaries is based in Bermuda.
| Issuer: | Aspen Insurance Holdings Ltd.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2023
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc.
|
| Co-managers: | BNY Mellon Capital Markets LLC, Lloyds Securities Inc.
|
| Coupon: | 4.65%
|
| Price: | 99.889
|
| Yield: | 4.6645
|
| Spread: | Treasuries plus 200 bps
|
| Trade date: | Nov. 5
|
| Settlement date: | Nov. 13
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Make-whole call: | Treasuries plus 30 bps
|
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