AXIS Capital Holdings Ltd. indirect wholly owned unit AXIS Specialty Finance PLC issued on Dec. 6 $350.0 million aggregate principal amount of its 4.000% senior notes due 2027.
Interest on the notes is payable semi-annually in arrears on June 6 and Dec. 6 of each year, starting June 6, 2018. The notes will mature Dec. 6, 2027, unless previously redeemed.
The notes are fully and unconditionally guaranteed by AXIS Capital under a March 13, 2014, senior indenture among AXIS Finance, as issuer, AXIS Capital, as guarantor, and Bank of New York Mellon Trust Co. NA, as trustee.
The notes were issued under a Nov. 29 underwriting agreement, with Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., as representatives of the offering's underwriters.