By Cristal Cody
Tupelo, Miss., June 11 – Fidelis Insurance Holdings Ltd. (BBB) priced a $300 million Rule 144A offering of 4.875% 10-year senior notes on Thursday at a spread of 433.8 basis points over Treasuries, according to a market source.
Wells Fargo Securities LLC was the bookrunner.
The company held fixed income investor calls for the issue on Wednesday.
Fidelis said in a news release on Wednesday that it also has executed agreements to raise a further $500 million of equity capital from existing investor relationships.
The company has now secured $800 million of additional equity in the last six months and will have capital for underwriting in excess of $2 billion.
Fidelis Insurance Holdings is a Bermuda-based specialty insurance and reinsurance provider with offices in New York and Houston.
| Issuer: | Fidelis Insurance Holdings Ltd.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | June 30, 2030
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Coupon: | 4.875%
|
| Spread: | Treasuries plus 433.8 bps
|
| Trade date: | June 11
|
| Rating: | S&P: BBB
|
| Distribution: | Rule 144A
|
| Marketing: | Fixed income investor calls
|
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