Aspen Prices Public Offering of $275 Million of Perpetual Non-Cumulative Preference Shares Business Wire HAMILTON, Bermuda -- April 25, 2013 Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) has priced an underwritten public offering of 11,000,000 shares of 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares (the “Preference Shares”). The Preference Shares have a liquidation preference of $25 per share (or $275,000,000 in aggregate liquidation preference). The offering was made pursuant to an effective shelf registration statement and is expected to close on May 2, 2013, subject to customary closing conditions. Aspen intends to use the net proceeds from the offering for settling the cash portion of the mandatory conversion of its 5.625% Perpetual PIERS and the remainder for general corporate purposes, including supporting its insurance and reinsurance activities through its operating subsidiaries. The Preference Shares rank equally with preference shares previously issued by Aspen, and have no fixed maturity date. Aspen may redeem all or a portion of the shares at a redemption price of $25 per share on or after July 1, 2023 and in certain other circumstances. Aspen intends to list the Preference Shares on the New York Stock Exchange under the symbol “AHLPRC”. The offering was led by Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. as joint book-running managers. This offering may be made only by means of a preliminary prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement and the final prospectus may be obtained, when available, from the U.S. Securities and Exchange Commission's website at www.sec.gov. Alternatively, these documents are available from the underwriters by contacting any of the following: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone (888) 603-5847 or email Barclaysprospectus@broadridge.com Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, telephone (877) 858-5407 or email firstname.lastname@example.org Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: email@example.com This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Preference Shares, nor shall there be any sale of the Preference Shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Aspen Insurance Holdings Limited Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2012, Aspen reported $10.3 billion in total assets, $4.8 billion in gross reserves, $3.5 billion in total shareholders’ equity and $2.6 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of “A” (“Strong”) by Standard & Poor’s, an “A” (“Excellent”) by A.M. Best and an “A2” (“Good”) by Moody’s Investors Service. Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995 This press release may contain written “forward-looking statements” within the meaning of the U.S. federal securities laws. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as “expect,” “intend,” “plan,” “believe,” “project,” “anticipate,” “seek,” “will,” “estimate,” “may,” “continue,” and similar expressions of a future or forward-looking nature. All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside Aspen’s control that could cause actual results to differ materially from such statements, including changes in market conditions and their impact on our business, as well as factors such as the availability of financing to fund the cash portion of the settlement of the mandatory conversion of the Perpetual PIERS on favorable terms and the possibility, if Aspen cannot obtain adequate replacement capital on favorable terms, or at all, that its financial condition and operating results could be adversely affected. For a more detailed description of uncertainties and other factors that could impact the forward-looking statements in this press release, please see the “Risk Factors” section in Aspen’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities and Exchange Commission on February 26, 2013. Aspen undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Contact: For further information Please visit www.aspen.co or contact: Investors Aspen Kerry Calaiaro, +1-646-502-1076 Senior Vice President, Investor Relations Kerry.Calaiaro@aspen.co or Media Aspen Steve Colton, +44 20 7184 8337 Head of Communications Steve.Colton@aspen.co or International – Citigate Dewe Rogerson Caroline Merrell or Jos Bieneman +44 20 7638 9571 firstname.lastname@example.org email@example.com or North America – Abernathy MacGregor Allyson Vento, +1-212-371-5999 firstname.lastname@example.org
Aspen Prices Public Offering of $275 Million of Perpetual Non-Cumulative Preference Shares
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