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AXIS Capital Holdings Ltd | 5.50% Series D Preferred Shares (AXS.PRD)
This preferred is marked as having been called.
Prospectus excerpt: We are selling 8,000,000 of our 5.50% Series D Preferred Shares, par value $0.0125 per share (the ÙSeries D Preferred Sharesˆ). Upon liquidation, dissolution or winding-up, the holders of the Series D Preferred Shares will be entitled to receive from our assets legally available for distribution to shareholders a liquidation preference of $25 per share, plus declared and unpaid dividends, if any, to the date fixed for distribution. Dividends on the Series D Preferred Shares will be payable on a non-cumulative basis only when, as and if declared by our board of directors, quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, commencing on September 1, 2013, at a rate equal to 5.50% of the liquidation preference per annum (equivalent to $1.375 per share). On and after June 1, 2018, we may redeem the Series D Preferred Shares, in whole or in part, at any time, at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption. At any time prior to June 1, 2018, we may redeem the Series D Preferred Shares in whole at a redemption price of $26 per Series D Preferred Share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption, only if we submit to the holders of our common shares a proposal for an amalgamation or merger or if we submit any proposal for any other matter that requires, as a result of a change in Bermuda law after the date of this prospectus supplement, for its validation or effectuation an affirmative vote of the holders of the Series D Preferred Shares at the time outstanding, whether voting as a separate series or together with any other series or class of preference shares as a single class. In addition, following the occurrence of a tax event or within 90 days following the occurrence of a capital redemption trigger date, each as described elsewhere in this prospectus supplement, we may redeem the Series D Preferred Shares, in whole or in part, at a redemption price of $25 per share, plus declared and unpaid dividends, if any, to, but excluding, the date of redemption. Full Prospectus PDF », Secondary Prospectus PDF », AXS Page »
Series: | D | Alternate symbology: | AXS-D, AXS-PD, AXSprD | Redeemable?: | Yes | Call Date: | 6/1/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 8,000,000 | Overallotment: | 1,200,000 | Liquidation Preference: | $25.00 | Original Coupon: | 5.50% | Pay Period: | Quarterly | Pay Dates: | 1-Mar, 1-Jun, 1-Sep, 1-Dec | CDx3 Compliance Rating: |
Learn AXS.PRD's Rating
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AXIS Capital Holdings is a holding company. Co. provides a range of specialty lines insurance and treaty reinsurance to its clients through operating subsidiaries and branch networks. Co. has two reportable segments: insurance, which provides specialty insurance products to a variety of markets and its lines of business include property, marine, terrorism, aviation, credit and political risk, professional lines, liability, and accident and health; and reinsurance, which provides treaty reinsurance to insurance companies and its lines of business include catastrophe, property, professional lines, credit and surety, motor, liability, agriculture, marine and aviation, and accident and health. Preferreds: AXS.PRA, AXS.PRC, AXS.PRD, AXS.PRE Open the AXS Information Page »
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Name: |
AXIS Capital Holdings Ltd |
Website: |
www.axiscapital.com |
Sector: |
Insurance Brokers |
Number of ETFs Holding AXS: |
44 (see which ones) |
Total Market Value Held by ETFs: |
$632,859,751.52 |
Total Market Capitalization: |
$5,179,000,000 |
% of Market Cap. Held by ETFs: |
12.22% |
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