19 June 2020Insurance
Fidelis raises additional $300m growth capital
Bermuda-based Fidelis Insurance Holdings has issued $300 million of senior notes, taking the aggregate capital committed to be raised by the company in the last six months to over $1 billion, and the total capital to over $2 billion.
The re/insurer has closed its offering of $300 million aggregate principal amount of 4.875 percent senior notes due 2030.
The notes have a 10-year maturity and a fixed-rate coupon payable semi-annually.
The notes have received Tier 3 capital treatment under the Bermuda Monetary Authority’s Group Supervision Rules.
The company recently raised $500 million from existing investors to capitalise on the hardening market.
