AXIS Specialty Finance markets $300 million 10-year senior notes

By Cristal Cody

Tupelo, Miss., June 10 – AXIS Specialty Finance plc plans to price $300 million of senior notes due 2029, according to a market source and a 424B5 filing with the Securities and Exchange Commission on Monday.

The company is scheduled to hold fixed income investor calls on Tuesday.

Wells Fargo Securities, LLC and HSBC Securities (USA) Inc. are the bookrunners.

The issue will have make-whole and par calls.

The notes are fully and unconditionally guaranteed by parent company AXIS Capital Holdings Ltd.

Proceeds will be used to repay or redeem the company’s 5.875% senior notes due 2020.

AXIS is a Pembroke, Bermuda-based provider of specialty lines insurance and treaty reinsurance with shareholders’ equity.

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