A story in the Oct. 7 edition of the Prospect News Investment Grade Daily and in an Oct. 6 online story incorrectly reported the size of Athene Holding Ltd.’s new 3.5% senior notes due Jan. 15, 2031. The correct size of the issue is $500 million. A corrected version of the story follows:
Tupelo, Miss., Oct. 7 – Athene Holding Ltd. sold $500 million of 3.5% senior notes due Jan. 15, 2031 (BBB+/BBB) on Tuesday at 98.535 to yield 3.673%, or a spread of Treasuries plus 290 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk on the notes was in the Treasuries plus 325 bps area.
The deal was upsized from $400 million.
Wells Fargo Securities LLC, Barclays, BofA Securities Inc. and RBC Capital Markets, LLC were the bookrunners.
Proceeds of the deal are earmarked for general corporate purposes, including support of investment opportunities, organic and inorganic growth and the company’s commitment to ACRA.
The retirement services company is based in Pembroke, Bermuda.
| Issuer: | Athene Holding Ltd.
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| Amount: | $500 million
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| Description: | Senior notes
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| Maturity: | Jan. 15, 2031
|
| Bookrunners: | Wells Fargo Securities LLC, Barclays, BofA Securities Inc. and RBC Capital Markets, LLC
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| Co-managers: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC
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| Coupon: | 3.5%
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| Price: | 98.535
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| Yield: | 3.673%
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| Spread: | Treasuries plus 290 bps
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| Call features: | Make-whole call before Oct. 15, 2030 at price equal to greater of par and Treasuries plus 45 bps; thereafter at par
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| Trade date: | Oct. 6
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| Settlement date: | Oct. 8
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| Ratings: | S&P: BBB+
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| Fitch: BBB
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 325 bps area
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