Athene Unveils $600 Million in Subordinated Debentures Offering
Athene Announces Major Subordinated Debentures Offering
Athene Holding Ltd. has recently made a significant announcement related to its financial strategies by agreeing to sell $600 million in aggregate principal amount of junior subordinated debentures. These specific securities, featuring a fixed rate of 6.875%, are due to reach maturity on June 28, 2055. The anticipated closing date for this offering is set for June 27, 2025, and it is contingent on the standard closing conditions being fulfilled.
Purpose of the Offering
The funds generated from this offering will primarily serve as general corporate resources for Athene. The company plans to utilize the net proceeds to support capital contributions to its insurance subsidiaries, driving organic growth and enhancing its competitive standing in the market.
Joint Managers of the Offering
A strong lineup of financial institutions is playing critical roles in this offering. Leading the way are BofA Securities, Deutsche Bank Securities, J.P. Morgan, and Wells Fargo Securities, who are acting as joint book-running managers. Additionally, a variety of co-managers, including Apollo Global Securities, Barclays, Blaylock Van, LLC, BNP PARIBAS, and Citigroup among others, are participating to ensure the success of this initiative.
Regulatory Compliance and Offering Details
The junior subordinated debentures are being offered in alignment with an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (SEC). It's essential to emphasize that this announcement does not act as a selling or solicitation offer, nor is it intended as a means to market securities where such actions would be unlawful prior to proper registration under securities laws.
Obtaining Offering Documents
Interested parties can acquire the necessary documents related to this offering without charge through the SEC's website. Alternatively, they can reach out to BofA Securities, Deutsche Bank, J.P. Morgan, or Wells Fargo directly for copies of these materials.
Understanding Athene's Market Position
Athene occupies a prominent position within the retirement services sector, boasting over $380 billion in total assets as of March 31, 2025. The company is devoted to providing financial security and innovative retirement income solutions for individuals and corporations alike across various global markets, including the United States, Bermuda, Canada, and Japan.
Commitment to Growth and Stability
Through strategic initiatives like this offering, Athene aims not only to solidify its existing market presence but also to pave the way for sustainable growth and enhanced financial performance. The overall goal is to ensure that they can continue expanding their range of beneficial products designed specifically for retirement savings and income.
Frequently Asked Questions
What is the total amount Athene is offering in debentures?
Athene is offering $600 million in junior subordinated debentures.
What is the maturity date for these debentures?
The junior subordinated debentures are due on June 28, 2055.
Who are the joint book-running managers for the offering?
The joint book-running managers include BofA Securities, Deutsche Bank Securities, J.P. Morgan, and Wells Fargo Securities.
How will Athene utilize the proceeds from this offering?
The net proceeds will fund general corporate purposes, including capital contributions to support the company's subsidiaries.
What is Athene's total asset value?
Athene has over $380 billion in total assets as of March 31, 2025.
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