AXIS taps Wall Street for a further $250m
Bermudian (re)insurer AXIS Capital Holdings has announced that it has agreed to sell $250m of preferred shares. AXIS says it intends to use the net proceeds for funding its insurance and reinsurance segments. A week ago the company announced that it was intending to offer “approximately $200m” in such stock, along with a sale of 6.8m new common shares.
Upon successful completion, this would bring AXIS’ total post-Katrina capital raising to approximately $700m.Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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