🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Athene issues $600 million in subordinated debentures

Published 2024-10-10, 05:52 p/m
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect
US500
-

Athene Holding (NYSE:ATH) Ltd., a life insurance company, has created a direct financial obligation through the issuance of $600 million in subordinated debentures, as disclosed in a recent SEC filing. The debentures, with a fixed-rate reset, are due in 2054 and were issued on Thursday.

The 6.625% Fixed-Rate Reset Junior Subordinated Debentures, due 2054, were sold under an underwriting agreement with Wells Fargo (NYSE:WFC) Securities, LLC, BofA Securities, Inc., Goldman Sachs & Co (NYSE:GS). LLC, and Morgan Stanley & Co (NYSE:MS). LLC. The debentures will initially bear interest at a fixed rate of 6.625% per annum until October 15, 2034. Post (NYSE:POST) the first reset date, the interest rate will be adjusted every five years to the Five-Year U.S. Treasury Rate plus 2.607%.

Interest payments are scheduled semi-annually with the first payment expected on April 15, 2025. The offering was made pursuant to an existing shelf registration statement and managed by a syndicate of underwriters.

The SEC filing also noted that Apollo Global Management (NYSE:APO), Inc., the parent company of Athene, will host a conference call on November 5, 2024, to discuss financial results for the third quarter ended September 30, 2024, which will include information about Athene's financial performance.

Athene's financial obligations and operations are based in West Des Moines, Iowa, with the company incorporated in Delaware. The information reported is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.