Aspen Announces Redemption of 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares

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Published Nov 29, 2024 • 4 infinitesimal read

HAMILTON, Bermuda — Aspen Insurance Holdings Limited (“Aspen” oregon the “Company”) announced contiguous that it has decided to telephone each 11,000,000 of its outstanding 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares (NYSE: AHLPRC; CUSIP: G05384154) (the “Preference Shares”) for redemption connected January 1, 2025 (the “Redemption Date”). The redemption terms volition beryllium US$25.00 per Preference Share (the “Redemption Price”), representing an aggregate magnitude of US$275,000,000. The Redemption Price volition beryllium paid connected January 2, 2025, which is the adjacent concern time pursuing the Redemption Date. Since the Redemption Date is besides a dividend outgo date, the Redemption Price does not see immoderate declared and unpaid dividends. Declared dividends of US$0.6196 per Preference Share, which were antecedently declared by Aspen’s Board of Directors, for the afloat existent quarterly dividend play from and including October 1, 2024, to but excluding January 1, 2025, volition beryllium paid separately successful the customary mode connected January 2, 2025 to holders of grounds astatine the adjacent of concern connected December 15, 2024. On and aft the Redemption Date, the Preference Shares truthful redeemed volition nary longer beryllium deemed to beryllium outstanding, dividends connected specified Preference Shares volition cease to accumulate and each rights of the holders of specified Preference Shares volition cease, but for the close to person the Redemption Price.

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The Company volition usage the nett proceeds from its antecedently announced offering of depositary shares, each representing a 1/1,000th involvement successful a stock of its 7.00% Perpetual Non-Cumulative Preference Shares, which closed connected November 26, 2024, arsenic good arsenic wide firm funds, to redeem the Preference Shares.

The announcement of redemption specifying the presumption and procedures for the redemption (the “Redemption Notice”) has been mailed to holders of grounds of the Preference Shares today. Requests for further copies of the Redemption Notice should beryllium directed to:

Computershare, Inc.
Attention: Corporate Actions Department
150 Royall Street / Suite 101
Canton, Massachusetts 02021
Telephone: (800) 546-5141

This property merchandise does not represent a Redemption Notice nether the certificate of designation governing the Preference Shares and is qualified successful its entirety by notation to the Redemption Notice issued by the Company.

About Aspen Insurance Holdings Limited

Aspen provides security and reinsurance sum to clients successful assorted home and planetary markets done wholly-owned operating subsidiaries successful Bermuda, the United States and the United Kingdom, arsenic good arsenic its subdivision operations successful Canada, Singapore and Switzerland. For the twelvemonth ended December 31, 2023, Aspen reported US$15.2 cardinal successful full assets, US$7.8 cardinal successful gross nonaccomplishment reserves, US$2.9 cardinal successful full shareholders’ equity and US$4.0 cardinal successful gross written premiums. Aspen’s operating subsidiaries person been assigned a standing of “A-” by Standard & Poor’s Financial Services LLC and an “A” (“Excellent”) by A.M. Best Company Inc.

Cautionary Statement Regarding Forward-Looking Statements

This property merchandise contains forward-looking statements wrong the meaning of Section 27A of the Securities Act of 1933, arsenic amended, and Section 21E of the Securities Exchange Act of 1934, arsenic amended, which include, but are not constricted to, statements related to the Company’s expectations regarding the redemption of the Preference Shares, and are made pursuant to the harmless harbor proviso of the Private Securities Litigation Reform Act of 1995. Forward-looking statements see each statements that bash not subordinate solely to humanities oregon existent facts. In particular, statements that usage the words specified arsenic “believe,” “anticipate,” “expect,” “assume,” “objective,” “target,” “plan,” “estimate,” “project,” “seek,” “will,” “may,” “aim,” “likely,” “continue,” “intend,” “guidance,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “predict,” “potential,” “on track” oregon their negatives oregon variations and akin terminology and words of akin import mostly impact forward-looking statements. These statements bespeak the Company’s existent views with respect to aboriginal events and due to the fact that the Company’s concern is taxable to galore risks, uncertainties and different factors, the Company’s existent results could disagree materially from those anticipated successful the forward-looking statements.

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All forward-looking statements code matters that impact risks and uncertainties. Accordingly, determination are oregon volition beryllium important factors that could origin existent results to disagree materially from those indicated successful these statements. For a statement of uncertainties and different factors that could interaction the forward-looking statements successful this property release, delight spot the “Risk Factors” conception successful Aspen’s Annual Report connected Form 20-F for the twelvemonth ended December 31, 2023 arsenic filed with the U.S. Securities and Exchange Commission.

The inclusion of forward-looking statements successful this property merchandise oregon immoderate different connection should not beryllium considered arsenic a practice by Aspen that existent plans oregon expectations volition beryllium achieved. Aspen undertakes nary work to publically update oregon revise immoderate forward-looking statement, whether arsenic a effect of caller information, aboriginal developments oregon otherwise, but arsenic required by law.