Athene to sell $1 billion worth of bonds

Bermuda-based Athene Holding is to sell $1 billion worth of bonds which will be used to provide capital for its reinsurance subsidiaries. 

The long term re/insurer said the 30-year notes will have a coupon of 6.25%. The offer closes tomorrow. 

“Athene intends to use the net proceeds from the offering for general corporate purposes, including capital contributions to its insurance subsidiaries to support organic growth,” the company said. 

Deutsche Bank Securities, Goldman Sachs & Co. LLC, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for the offering. Apollo Global Securities, Barclays, BNP PARIBAS, BMO Capital Markets and Blaylock Van, LLC are acting as joint lead managers for the offering.

Separately, life insurer Aegon, which redomiciled to Bermuda recently, said it was redeeming €700 million of 4% fixed-to-floating subordinated notes effective April 25. As previously announced, Aegon intends to refinance the notes.

The securities are currently listed on Euronext Amsterdam. This listing will be terminated following the redemption of the securities.

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