US EditionAscot Group Limited Announces Pricing of Senior Notes Offering
- Ascot Group Limited priced a $350 million offering of Senior Notes at a fixed 6.349% rate due in 2035, announced on May 13, 2025 from Hamilton, Bermuda.
- This offering follows Ascot's strategic moves over 24 months aimed at strengthening its balance sheet and increasing financial flexibility amid unprecedented market volatility.
- The Senior Notes have a 10-year maturity, carry investment grade ratings of BBB- from S&P and bbb+ from AM Best, and received Bermuda Monetary Authority approval as Tier 3 Ancillary Capital.
- Jonathan Zaffino, Ascot’s CEO, said the transaction aims to diversify the capital base and attract investors through traditional and non-traditional opportunities to fuel long-term growth.
- The offering is anticipated to be finalized on May 16, 2025, contingent upon customary closing conditions, with the net proceeds designated for general corporate purposes; forward-looking statements emphasize various risk factors that may affect outcomes.
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The Berkshire Eagle
Ascot Group Limited Announces Pricing of Senior Notes Offering
HAMILTON, Bermuda, May 13, 2025 /PRNewswire/ -- Ascot Group Limited ("Ascot"), a global specialty (re)insurance company, announced that it has priced its offering of $350 million aggregate principal amount of 6.349% fixed-rate reset senior notes due 2035 (the "Senior Notes").…
Ascot raises ~$350m via senior notes
Bermuda-domiciled global specialty re/insurer Ascot Group has priced the offering of $350 million aggregate principal amount of 6.349% fixed-rate reset senior notes due in 2035, as the carrier looks to be more financially flexible. The senior notes have a 10-year maturity and are rated investment grade, including BBB- by S&P Global Ratings, BBB+ by Fitch Ratings, and bbb+ by AM Best. The re/insurer intends to use the net proceeds for general cor…
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