Athene to sell $1bn in bonds to support organic growth

Bermuda-based long term re/insurer Athene Holding is to sell $1 billion worth of bonds that will be used to provide capital for its reinsurance subsidiaries. 

The company said the 30-year notes will have a coupon of 6.25%. The offer closes on March 22, 2024, 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,” 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.

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