New Issue: SiriusPoint sells $400 million 7% five-year notes at 290 bps spread

By Devika Patel

Knoxville, Tenn., March 27 – SiriusPoint Ltd. priced $400 million of 7% five-year tier 3 senior notes (Baa2/BBB-/BBB-) on Wednesday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.631 to yield 7.089%, or Treasuries plus 290 basis points.

BMO Capital Markets Corp., HSBC Securities (USA) Inc., Jefferies LLC, J.P. Morgan Securities LLC, BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Lloyds Securities Inc. were the joint bookrunners, with HSBC Securities (USA) Inc. and Jefferies LLC as structuring advisers.

Primarily based in Pembroke, Bermuda, SiriusPoint is an international specialty insurance and reinsurance company.

Issuer:	SiriusPoint Ltd.
Amount:	$400 million
Issue:	Tier 3 senior notes
Maturity:	April 5, 2029
Bookrunners:	BMO Capital Markets Corp., HSBC Securities (USA) Inc., Jefferies LLC, J.P. Morgan Securities LLC, BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Lloyds Securities Inc.
Structuring advisers:	HSBC and Jefferies
Coupon:	7%
Price:	99.631
Yield:	7.089%
Spread:	Treasuries plus 290 bps
Call:	Make-whole call at Treasuries plus 45 bps until March 5, 2029, then a par call
Trade date:	March 27
Settlement date:	April 5
Ratings:	Moody’s: Baa2
	S&P: BBB-
	Fitch: BBB-
Distribution:	SEC registered
Cusip:	82969BAA0

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