Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

Athene Holding LTD Prices New Preferred

Athene Holding (ATH) has priced the previously announced fix-rate reset preferred.

As of 8:30 pm (central) the SEC FWP (free writing prospectus) with the pricing terms has not been filed. Below is what we know now.

The initial coupon will be 6.375% which will remain in effect until 2025. After 9/2025 it will trade at a coupon which will be reset every 5 years at the 5 year treasury plus a spread–until the FWP is filed early tomorrow the spread is unknown. We will have the detail before the market opens tomorrow (assuming it is filed).

The issue is non-cumulative, qualified and low investment grade (BBB-).

The company press release can be read here.

I may have an interest in this issue–but can’t know until the spread is announced.

The OTC grey market ticker will be ATHHL. The issue will trade tomorrow.

The permanent ticker will be ATH-C after it has traded on the OTC grey market.

Leave a Reply

Your email address will not be published. Required fields are marked *