Athene Prices $500 Million Investment Grade Junior Subordinated Debentures Offering
February 29 2024 - 7:13PM
Athene Holding Ltd. (“Athene”) today announced it has agreed to
sell $500 million aggregate principal amount of 7.250% fixed-rate
reset junior subordinated debentures due 2064 and to grant the
underwriters an option, exercisable for 30 days, to purchase up to
an additional $75 million aggregate principal amount of debentures
solely to cover over-allotments. The offering is expected to close
on March 7, 2024, subject to satisfaction of customary closing
conditions. Athene intends to list the debentures on the New York
Stock Exchange under the ticker symbol “ATHS.”
Athene intends to use the net proceeds from the
offering (including the net proceeds available from any exercise of
the underwriters’ over-allotment option to purchase additional
debentures) for general corporate purposes, including capital
contributions to its insurance subsidiaries to support organic
growth.
Wells Fargo Securities, BofA Securities, J.P.
Morgan and Morgan Stanley are acting as joint book-running managers
for the offering. Apollo Global Securities, LLC, Barclays Capital
Inc., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, SMBC
Nikko Securities America, Inc. and Bancroft Capital, LLC are acting
as joint lead managers for the offering.
The debentures are being offered pursuant to an
effective shelf registration statement that has previously been
filed with the Securities and Exchange Commission (the “SEC”). This
press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer, or solicitation to buy, if at all, will be
made solely by means of a prospectus and related prospectus
supplement filed with the SEC. You may obtain these documents
without charge from the SEC at www.sec.gov. Alternatively, you may
request copies of these materials from the joint book-running
managers by contacting Wells Fargo Securities, LLC toll-free at
(800) 645-3751, BofA Securities, Inc. toll-free at (800) 294-1322,
J.P. Morgan Securities LLC collect at (212) 834-4533 or Morgan
Stanley & Co. LLC toll-free at (866) 718-1649.
About Athene
Athene is a leading retirement services company
with $300 billion of total assets as of December 31, 2023, and
operations in the United States, Bermuda, Canada, and Japan. Athene
is focused on providing financial security to individuals by
offering an attractive suite of retirement income and savings
products and also serves as a solutions provider to
corporations.
Forward-Looking Statements
This press release contains, and certain oral
statements made by Athene's representatives from time to time may
contain, forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements are
subject to risks, uncertainties and assumptions that could cause
actual results, events and developments to differ materially from
those set forth in, or implied by, such statements. These
statements are based on the beliefs and assumptions of Athene's
management and the management of Athene's subsidiaries. Generally,
forward-looking statements include actions, events, results,
strategies and expectations and are often identifiable by use of
the words “believes,” “expects,” “intends,” “anticipates,” “plans,”
“seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,”
“should,” or “continues” or similar expressions. Forward-looking
statements within this press release include, but are not limited
to, statements regarding future growth prospects and financial
performance. Although Athene management believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that these expectations will
prove to be correct. For a discussion of other risks and
uncertainties related to Athene’s forward-looking statements, see
its annual report on Form 10-K for the year ended December 31,
2023, which can be found at the SEC’s website www.sec.gov. All
forward-looking statements described herein are qualified by these
cautionary statements and there can be no assurance that the actual
results, events or developments referenced herein will occur or be
realized. Athene does not undertake any obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
Contact:
Media ContactJeanne HessVP, External
Relations+1 646 768 7319jeanne.hess@athene.com
Athene (NYSE:ATH)
Historical Stock Chart
From Nov 2024 to Dec 2024
Athene (NYSE:ATH)
Historical Stock Chart
From Dec 2023 to Dec 2024