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AXIS Specialty Finance to price up to $350 million 10-year guaranteed senior notes
By Cristal Cody
Tupelo, Miss., Nov. 27 – AXIS Capital Holdings Ltd. announced on Monday that subsidiary AXIS Specialty Finance plc (/A+/A.M. Best: A+) launched an offering of up to $350 million of 10-year senior notes.
Credit Suisse Securities (USA) LLC, Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are the bookrunners.
The notes are fully and unconditionally guaranteed by AXIS Capital, according to the news release.
Proceeds will be used to repay or redeem the company’s 2.65% senior notes due 2019 and for general corporate purposes.
The company plans to list the notes on the Bermuda Stock Exchange.
AXIS is a Pembroke, Bermuda-based provider of specialty lines insurance and treaty reinsurance with shareholders’ equity.
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