HAMILTON, Bermuda--(BUSINESS WIRE)--Aspen Insurance Holdings Limited (“Aspen” or the “Company”) (NYSE: AHL) has priced an underwritten public offering of US$300,000,000 aggregate principal amount of 5.750% senior notes due 2030 (the “Notes”). The Notes were priced at 99.870% of the principal amount and will mature on July 1, 2030. The offering was made pursuant to an effective shelf registration statement and is expected to close on June 13, 2025, subject to the satisfaction of customary closin.

A few new issuers went public this past week, joined by two SPACs. Three IPOs are scheduled to list in the week ahead, although some small deals may join the calendar at the last minute. Street research is expected for three companies in the week ahead, and one lock-up period will be expiring.

HAMILTON, Bermuda--(BUSINESS WIRE)--Aspen Insurance Holdings Limited (“Aspen”) announced today the closing of its upsized initial public offering of 13,250,000 of its Class A ordinary shares, par value $0.001 per share (“ordinary shares”), at a price to the public of $30.00 per ordinary share. The ordinary shares were sold by certain entities managed by affiliates of Apollo Global Management, Inc. (the “selling shareholders”). In connection with the offering, the selling shareholders have grant.

Shares of Aspen Insurance rose 10.8% above the offer price in their New York Stock Exchange return on Thursday, valuing the Bermuda-based specialty insurer at $3.05 billion.

Apollo Global Management plans to spin off Aspen Insurance Holdings Limited in 2025, targeting a $4 billion valuation, after postponing the IPO due to unfavorable market conditions. Aspen Insurance redeemed its 5.95% "C" preferred stock using funds from a recently issued 7% preferred, signaling positive financial health for existing preferreds. Aspen's Q3 results show improved financials, with $3 billion available to cover preferred stockholders, indicating a strong coverage ratio and market confidence.

Aspen Insurance Holdings Ltd. issued a new 7.00% non-cumulative preferred stock, AHL-F, with $200 million gross proceeds, rated BB+ by S&P and Ba1 by Moody's. AHL-F offers a 6.88% current yield and 6.59% yield to call, trading at $25.43, and is callable on and after 11/30/2029. Aspen Insurance shows stable financials ensuring preferred distributions are not threatened and sufficient common equity to cover debt and preferred equity.

HAMILTON, Bermuda--(BUSINESS WIRE)--Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) announced today that the Board of Directors has declared the following dividends on its Preference Shares: Quarterly dividend of $0.6196 per share on its Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares with a $25 liquidation preference per share (NYSE:AHL PRC); Quarterly dividend of $0.3516 per share on its 5.625% Perpetual Non-Cumulative Preference Shares with a $25 liquidation preferenc.

We take a look at the action in preferreds and baby bonds through the fourth week of January and highlight some of the key themes we are watching. Preferred stock and baby bond market had a good week with most sectors finishing in the green. The article discusses the curious case of Aspen insurer preferred AHL.PR.C and how the coupon conversion worked on the first call date.

The FOMC has clearly telegraphed we should expect another 75 basis point bump in rates. Today's fixed income returns are good and expected to get even better in a couple of weeks.

HAMILTON, Bermuda--(BUSINESS WIRE)--Aspen Reports Results for the Six Months Ended June 30, 2021