Athene Holding Ltd. has filed a prospectus supplement related to an offering of its depositary shares, each representing a fractional interest in a share of fixed-to-floating rate perpetual noncumulative Series A preference shares.
Proceeds from the offering will be used to support the company's funding commitment to Athene Co-Invest Reinsurance Affiliate.
Additionally, the company's board approved a contingent increase in the company's capacity to repurchase class A common shares to counteract any short-term earnings dilution from the preference shares offering. The authorization increase for additional buybacks of class A common shares is projected to be equivalent to about 15% of the offering proceeds. The final amount will be identified upon closing.