Aspen Insurance Issues 9M Preference Shares

TL;DR

Aspen Insurance just dropped 9M preference shares at 7% yield, $25/share.

AI Summary

On November 26, 2024, Aspen Insurance Holdings Limited issued 9,000,000 depositary shares. Each share represents a 1/1,000th interest in the company's newly designated 7.00% Perpetual Non-Cumulative Preference Shares. The initial liquidation preference is $25,000 per preference share, equivalent to $25 per depositary share.

Why It Matters

This issuance of preference shares could impact the company's capital structure and financial leverage, potentially affecting its credit rating and future dividend capacity.

Risk Assessment

Risk Level: medium — The issuance of perpetual non-cumulative preference shares introduces a new class of equity-like security with fixed dividend obligations, which can increase financial risk if not managed effectively.

Key Numbers

• 9.0M — Depositary Shares Issued (Represents new capital raised through preference shares.)
• 7.00% — Preference Share Dividend Rate (Indicates the cost of this new capital for the company.)
• $25 — Depositary Share Liquidation Preference (The initial value attributed to each depositary share.)

Key Players & Entities

• Aspen Insurance Holdings Limited (company) — Registrant
• 9,000,000 (dollar_amount) — Number of depositary shares issued
• 7.00% (dollar_amount) — Dividend rate on preference shares
• November 26, 2024 (date) — Date of issuance
• $25,000 (dollar_amount) — Initial liquidation preference per preference share
• $25 (dollar_amount) — Equivalent liquidation preference per depositary share

FAQ

Key Financial Figures

• $0.0015144558 — es (the "Preference Shares"), par value $0.0015144558 per Preference Share with an initial li
• $25,000 — th an initial liquidation preference of $25,000 per Preference Share, equivalent to $25
• $25 — 000 per Preference Share, equivalent to $25 per Depositary Share (representing $225
• $225,000,000 — $25 per Depositary Share (representing $225,000,000 in aggregate liquidation preference). T
• $437.50 — ion preference per annum (equivalent to $437.50 per Preference Share and $0.4375 per De
• $0.4375 — ent to $437.50 per Preference Share and $0.4375 per Depositary Share for a full dividen

Filing Documents

• aspen-closing6xk112624.htm (6-K) — 22KB
• exhibit41-6xk.htm (EX-4.1) — 190KB
• exhibit42-6xk.htm (EX-4.2) — 22KB
• exhibit43-6xk.htm (EX-4.3) — 494KB
• exhibit44-6xk.htm (EX-4.4) — 82KB
• exhibit51-6xk.htm (EX-5.1) — 17KB
• exhibit52-6xk.htm (EX-5.2) — 27KB
• exhibit521a.jpg (GRAPHIC) — 8KB
• sidleylogo.jpg (GRAPHIC) — 3KB
• 0001628280-24-049267.txt ( ) — 869KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ASPEN INSURANCE HOLDINGS LIMITED Dated November 26, 2024 By s Mark Pickering Name Mark Pickering Title Group Chief Financial Officer Treasurer

View Full Filing

View this 6-K filing on SEC EDGAR