AXIS holds roadshow for registered fixed-rate reset junior subordinated notes due 2040

By Cristal Cody

Tupelo, Miss., Dec. 2 – AXIS Specialty Finance plc held a roadshow on Monday for a registered offering of fixed-rate reset junior subordinated notes due 2040 (Baa1/A-), according to a market source and a 424B5 filing with the Securities and Exchange Commission.

Pricing is expected on Tuesday.

Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the bookrunners.

The notes are fully and unconditionally guaranteed by parent company AXIS Capital Holdings Ltd.

Proceeds will be used for repayment or redemption of the company’s 5.875% senior notes due 2020 and the redemption of all of its 5.5% series D preferred shares.

AXIS is a Pembroke, Bermuda-based insurance and reinsurance company with U.S. operations based in Alpharetta, Ga.

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