New Issue-AXIS Specialty Finance sells $500 mln notes

Thu Mar 18, 2010 6:11pm EDT

 March 18 (Reuters) - AXIS Specialty Finance LLC, a unit of
AXIS Capital Holdings Limited (AXS.N) on Thursday sold $500
million of senior unsecured notes, said IFR, a Thomson Reuters
service.
  The notes are guaranteed by AXIS Capital Holdings Ltd.
  The size of the deal was increased from an originally
planned $400 million.
  Barclays, Deutsche Bank, and Wells Fargo Securities were
the joint bookrunning managers for the sale.
BORROWER: AXIS SPECIALTY FINANCE LLC
AMT $500 MLN      COUPON 5.875 PCT    MATURITY 6/1/2020  
TYPE SR NOTES     ISS PRICE 99.624    FIRST PAY N/A
MOODY'S Baa1      YIELD 5.926 PCT     SETTLEMENT 3/23/2010
S&P A-MINUS       SPREAD 225 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 35 BPS

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