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Conyers advises AXIS Capital Holdings Limited on its US$200 million offering

Conyers provided Bermuda law advice to AXIS Capital Holdings Limited (NYSE: AXS) on its offering of US$200 million of its 5.5% Series D Preferred Shares. The offering was made pursuant to an effective shelf registration statement and closed on 20 May 2013. In addition, AXIS Capital granted a 30-day option to the underwriters to buy up to 1.2 million additional Series D Preferred Shares. The proceeds from this US$200 million issuance were deployed to redeem the outstanding Series A preferred securities of AXIS Capital and for general corporate purposes, including share buybacks.

Conyers worked alongside Simpson Thacher & Bartlett LLP. Cravath, Swaine & Moore LLP acted for the underwriters.

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at 31 March 2013 of US$5.9 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America.

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


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

Bermuda   +1 441 299 4965

Chiara T. Nannini

Bermuda   +1 441 298 7859

Jason Piney

Bermuda   +1 441 299 4993


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