WEST DES MOINES, Iowa, Feb. 29, 2024 (GLOBE NEWSWIRE) — 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 …