PreferredStockChannel
AXIS Capital Holdings Ltd | 7.25% Series A Preferred Shares (AXS.PRA)

This preferred is marked as having been called.
Prospectus excerpt:   We are selling 10,000,000 of our 7.25% series A preferred shares, par value $0.0125 per share.

Upon liquidation, dissolution or winding-up, the holders of the series A 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 A 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 the fifteenth day of January, April, July and October of each year, commencing on January 15, 2006, at a rate equal to 7.25% of the liquidation preference per annum (equivalent to $1.8125 per share).

On and after October 15, 2010, we may redeem the series A 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 the date of redemption. We may not redeem the series A preferred shares before October 15, 2010, except that we may redeem the series A preferred shares before that date at a redemption price of $26 per share, plus declared and unpaid dividends, if any, to the date of redemption, if we submit to the holders of our common shares a proposal for an amalgamation 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 A 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. The series A preferred shares have no stated maturity and will not be subject to any sinking fund or mandatory redemption and will not be convertible into any of our other securities or property.

Full Prospectus PDF », AXS Page »

Series:A
Alternate symbology:AXS-A, AXS-PA, AXSprA
Redeemable?:Yes
Call Date:10/15/2010 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:10,000,000
Liquidation Preference:$25
Original Coupon:7.25%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn AXS.PRA's Rating
AXIS Capital Holdings is a holding company. Co. provides a range of specialty lines insurance and treaty reinsurance solutions to its clients through operating subsidiaries and branch networks. Co.'s insurance segment provides 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. Co.'s reinsurance segment provides treaty reinsurance to insurance companies and its lines of business include catastrophe, property, professional lines, credit and surety, motor, liability, agriculture, engineering, marine and aviation, and accident and health.

Preferreds: AXS.PRA, AXS.PRC, AXS.PRD, AXS.PRE


Open the AXS Information Page »
Name: 
AXIS Capital Holdings Ltd
Website: 
www.axiscapital.com
Sector: 
Insurance Brokers
Number of ETFs Holding AXS: 
43 (see which ones)
Total Market Value Held by ETFs: 
$578,149,426.46
Total Market Capitalization: 
$4,686,000,000
% of Market Cap. Held by ETFs: 
12.34%

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