|[April 06, 2014]
Athene Holding Ltd. Announces Successful $1 Billion Private Placement
PEMBROKE, Bermuda --(Business Wire)--
Athene Holding Ltd. ("Athene Holding," and together with its
subsidiaries, "Athene") announced today the successful completion of its
private placement offering previously announced on January 8, 2014.
Athene raised $1.048 billion of primary equity commitments from leading
third party institutional investors and certain existing Athene and AP
Alternative Assets, L.P. ("AAA") investors in this pre-IPO round of
funding, representing an increase to Athene's original $500 million
equity commitment target. This offering was priced at $26 per common
Athene Chief Executive Officer Jim Belardi, said: "We are very pleased
with this offering, particularly because we were able to increase the
size and price from our original plans due to the continued strong
performance of Athene's business. We are also pleased to report that
this offering garnered significant demand from a number of the world's
most prominent institutional investors. The additional equity capital
from this round of funding will bolster our efforts to achieve a ratings
upgrde, which will benefit our retail platform and lower our cost of
funds. Increasing our equity capital by more than $1.0 billion
reinforces our financial strength and leadership position in the
retirement savings market, and provides capital to further support
Athene's multi-channel growth strategy in advance of Athene's IPO."
Athene President Grant Kvalheim, said: "Policyholder protection has
always been Athene's foremost priority. To that end, the successful
completion of this offering strengthens Athene's capital base and
further enhances our ability to provide our policyholders with a
guaranteed stream of income they need to live securely in retirement."
About Athene Holding Ltd.
Athene Holding, through its subsidiaries, is a leading provider of
products in the retirement savings market. Athene's principal
subsidiaries include Athene Annuity & Life Assurance Company and Athene
Life Insurance Company, Delaware-domiciled insurance companies, Athene
Annuity and Life Company, an Iowa-domiciled insurance company, Athene
Annuity & Life Assurance Company of New York and Athene Life Insurance
Company of New York, New York-domiciled insurance companies, and Athene
Life Re Ltd., a Bermuda-domiciled reinsurer.
Athene Holding provides investment solutions, including tax-efficient
savings products, to support retirees as well as those saving for
retirement. The products offered by Athene include:
Retail fixed and equity indexed annuity products
Institutional products, such as funding agreements
Co-insurance and reinsurance arrangements with third party life
insurance and annuity providers
Further information about our companies can be found at www.athene.bm.
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