AXIS Capital extends $250 million secured LoC facility to 2020

By Marisa Wong

Morgantown, W.Va., April 3 – AXIS Capital Holdings Ltd.’s subsidiaries, AXIS Specialty Ltd., AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Co., AXIS Surplus Insurance Co. and AXIS Reinsurance Co., amended their existing $250 million secured letter-of-credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The companies extended the expiration date of the $250 million facility to March 31, 2020 for letters of credit with a tenor not to extend beyond March 31, 2021.

The terms and conditions of the additional $500 million secured letter-of-credit facility under the aggregate $750 million secured letter-of-credit facility with Citibank Europe plc are unchanged.

AXIS is a Pembroke, Bermuda-based holding company for specialty reinsurance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.