Athene Holding Ltd. plans to sell $1 billion in senior notes, targeting corporate growth and capital contributions.
Quiver AI Summary
Athene Holding Ltd. has announced its plan to sell $1 billion in senior notes with a 6.625% interest rate, maturing in 2055, with the offering expected to close on May 19, 2025, pending customary closing conditions. The proceeds will be used for general corporate purposes, including capital contributions to its insurance subsidiaries to support organic growth. Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC, and J.P. Morgan are the primary managers for the offering, while several other firms are co-managers. The notes are being offered under an existing shelf registration statement with the SEC. Athene, a major retirement services company with over $380 billion in assets as of March 31, 2025, aims to provide financial security through various retirement income and savings products. The press release contains forward-looking statements subject to risks and uncertainties, which are discussed further in Athene's annual report.
Potential Positives
- Athene is raising $1 billion through the issuance of senior notes, which indicates strong investor interest and confidence in the company's financial stability.
- The capital raised is intended for general corporate purposes, including supporting organic growth in its insurance subsidiaries, showcasing a strategic focus on expanding its operations.
- The offering is managed by reputable financial institutions, enhancing the credibility and market perception of Athene within the financial community.
Potential Negatives
- The issuance of $1 billion in senior notes may indicate Athene's need for significant capital, which could raise concerns about its financial health and reliance on debt financing.
- The long maturity of the notes (due 2055) may imply long-term financial obligations that could impact future cash flows and operational flexibility.
- While the press release includes forward-looking statements about growth, there is no guarantee that these expectations will be met, leading to potential investor skepticism.
FAQ
What is the total amount of senior notes Athene is selling?
Athene is selling $1,000,000,000 aggregate principal amount of 6.625% senior notes due 2055.
When is the offering expected to close?
The offering is expected to close on May 19, 2025, subject to customary closing conditions.
What will Athene do with the proceeds from the offering?
Athene intends to use the net proceeds for general corporate purposes, including capital contributions to its insurance subsidiaries.
Who are the joint book-running managers for the offering?
The joint book-running managers are Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC, and J.P. Morgan.
How can I obtain the prospectus for the senior notes?
You can obtain the prospectus from the SEC's website at www.sec.gov or by contacting the joint book-running managers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
WEST DES MOINES, Iowa, May 14, 2025 (GLOBE NEWSWIRE) -- Athene Holding Ltd. (“Athene”) today announced it has agreed to sell $1,000,000,000 aggregate principal amount of 6.625% senior notes due 2055. The offering is expected to close on May 19, 2025, subject to satisfaction of customary closing conditions.
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.
Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the offering. Apollo Global Securities, Academy Securities, BMO Capital Markets, Citigroup, Ramirez & Co., Inc. and SMBC Nikko are acting as co-managers for the offering.
The notes 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 Morgan Stanley & Co. LLC toll-free at (866) 718-1649, BofA Securities, Inc. toll-free at (800) 294-1322, Goldman Sachs & Co. LLC toll-free at (866) 471-2526, or J.P. Morgan Securities LLC collect at (212) 834-4533.
About Athene
Athene is a leading retirement services company with over $380 billion of total assets as of March 31, 2025, 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, 2024, 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.
Media Contact
Jeanne Hess
VP, External Relations
+1 646 768 7319
[email protected]
