Athene Secures $600 Million in Junior Subordinated Debentures
Athene Holding Ltd. has recently announced a substantial offering of junior subordinated debentures totaling $600 million. These debentures will feature a fixed-rate of 6.625% and are set to mature in 2054. While this offering is a significant move for the company, the anticipated closing date is set shortly after for October 10, with completion hinging on customary closing conditions.
Utilization of Proceeds
The net proceeds generated from this strategic offering will be directed towards general corporate purposes. Notably, this may involve the potential redemption or buyback of existing securities, including the company’s 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Series C Preferred Stock, valued at $600 million. It’s essential to note that this announcement does not serve as a redemption notice or an offer to buy any securities.
Joint Managers and Collaborators
Leading financial institutions are onboard to facilitate this offering. The joint book-running managers include Wells Fargo Securities, BofA Securities, Goldman Sachs & Co. LLC, and Morgan Stanley. Moreover, esteemed co-managers in this offering consist of Apollo Global Securities, BMO Capital Markets, BNP PARIBAS, Ramirez & Co., Inc., Société Générale, Siebert Williams Shank, and SMBC Nikko.
Compliance and Registration
The structure of this offering relies on an effective shelf registration statement that Athene has previously filed with the Securities and Exchange Commission (SEC). Importantly, this announcement does not constitute an offer to sell or a solicitation to buy and is compliant with all relevant laws prohibiting sale in jurisdictions where it would be unlawful prior to registration or qualification under securities laws.
About Athene Holding Ltd.
Athene operates as a prominent retirement services firm, boasting total assets amounting to $330 billion as of mid-2024. With a strong market presence in various locations, including the United States and Canada, Athene is devoted to delivering financial solutions aimed at fostering security for individuals through a diverse selection of retirement income and savings products. Additionally, it plays a pivotal role as a solutions provider for enterprises, reinforcing its commitment to the financial security of its clients.
Contact Information
For further inquiries, Athene encourages parties to reach out to its media contact: Jeanne Hess, VP of External Relations, who can be reached by phone at +1 646 768 7319 or via email at jeanne.hess@athene.com.
Frequently Asked Questions
What is the total amount of the debentures being offered?
Athene is offering a total of $600 million in junior subordinated debentures.
What is the maturity date for the debentures?
The debentures are set to mature in 2054.
Who are the joint book-running managers handling the offering?
The joint book-running managers are Wells Fargo Securities, BofA Securities, Goldman Sachs & Co. LLC, and Morgan Stanley.
What will Athene do with the proceeds from the debentures?
The net proceeds will be used for general corporate purposes, potentially including the redemption of existing preferred stock.
How can I contact Athene for more information?
You can contact Jeanne Hess, VP of External Relations, at +1 646 768 7319 or email her at jeanne.hess@athene.com.
