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AXIS selling $500 million senior notes in two tranches Thursday
By Aleesia Forni
Virginia Beach, March 6 - AXIS Specialty Finance plc is expected to sell $500 million of senior notes in two tranches during Thursday's session, according to a market source and a 424B5 filed with the Securities and Exchange Commission.
The sale is expected to include tranches due 2019 and 2045.
The notes will be guaranteed by AXIS Capital Holdings Ltd.
Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are the joint bookrunners.
Proceeds will be used to repay the company's 5.75% senior notes due 2014.
AXIS is a Bermuda-based holding company for specialty reinsurance.
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