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Conyers advises AXIS Capital Holdings Limited on its secondary share offering of 2.74 million shares at US$39.50 per share

Conyers Dill & Pearman represented AXIS Capital Holdings Limited (“AXIS Capital”), in connection with the sale by Stone Point Capital LLC’s Trident II, L.P. and related entities (“Trident”) of its remaining stake in AXIS Capital. AXIS Capital priced its secondary share offering of nearly 2.74 million shares at US$39.50 per share, a value of approximately US$108 million. Upon completion of the offering on 14 February 2013, Trident no longer owns any of AXIS Capital’s common shares. UBS Investment Bank acted as the sole underwriter for the offering of the common shares. Conyers worked alongside Simpson Thacher & Bartlett LLP. Cravath, Swaine & Moore LLP acted for the underwriter.

AXIS Capital (NYSE: AXS) is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at 31 December 2012 of US$5.8 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America

The Conyers’ team was made up of Graham Collis and Jason Piney.

 


Graham B.R. Collis
Director, Head of Bermuda Corporate

BERMUDA   +1 441 299 4965


Jason Piney
Director

Bermuda   +1 441 299 4993


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Deals & Transactions

Conyers advises AXIS Capital Holdings Limited on its secondary share offering of 2.74 million shares at US$39.50 per share

15 February 2013 Graham B.R. Collis Jason Piney

Conyers Dill & Pearman represented AXIS Capital Holdings Limited (“AXIS Capital”), in connection with the sale by Stone Point Capital LLC’s Trident II, L.P. and related entities (“Trident”) of its remaining stake in AXIS Capital. AXIS Capital priced its secondary share offering of nearly 2.74 million shares at US$39.50 per share, a value of approximately US$108 million. Upon completion of the offering on 14 February 2013, Trident no longer owns any of AXIS Capital’s common shares. UBS Investment Bank acted as the sole underwriter for the offering of the common shares. Conyers worked alongside Simpson Thacher & Bartlett LLP. Cravath, Swaine & Moore LLP acted for the underwriter.

AXIS Capital (NYSE: AXS) is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at 31 December 2012 of US$5.8 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America

The Conyers’ team was made up of Graham Collis and Jason Piney.

 


Graham B.R. Collis
Director, Head of Bermuda Corporate

BERMUDA   +1 441 299 4965


Jason Piney
Director

Bermuda   +1 441 299 4993


 

expertise

Corporate


International Office(s)

Bermuda