Athene Holding Ltd. Terminates Material Definitive Agreement

TL;DR

Athene Holding Ltd. just terminated a big deal. What was it?

AI Summary

On June 28, 2024, Athene Holding Ltd. filed an 8-K report detailing the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement that was terminated.

Why It Matters

The termination of a material definitive agreement can signal a shift in strategic partnerships or business operations for Athene Holding Ltd., potentially impacting its future financial performance and market position.

Risk Assessment

Risk Level: medium — The termination of a material definitive agreement introduces uncertainty regarding the company's business relationships and future strategies.

Key Players & Entities

• Athene Holding Ltd. (company) — Registrant

FAQ

Key Financial Figures

• $2.60 b — greement allows for borrowings of up to $2.60 billion, subject to being increased to up
• $3.10 billion — on, subject to being increased to up to $3.10 billion on the terms described in the Credit Ag
• $10,167,370,000 — fined in the Credit Agreement) equal to $10,167,370,000. Further, the Credit Agreement contains

Filing Documents

• ahl-20240628.htm (8-K) — 54KB
• ahl-20240628_g1.jpg (GRAPHIC) — 153KB
• 0001527469-24-000056.txt ( ) — 647KB
• ahl-20240628.xsd (EX-101.SCH) — 2KB
• ahl-20240628_def.xml (EX-101.DEF) — 19KB
• ahl-20240628_lab.xml (EX-101.LAB) — 32KB
• ahl-20240628_pre.xml (EX-101.PRE) — 19KB
• ahl-20240628_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 28, 2024, Athene Holding Ltd. ("AHL" or the "Company") and Athene Life Re Ltd., a wholly-owned indirect subsidiary of the Company ("Athene Life Re" and, together with the Company, the "Borrowers" and individually, a "Borrower"), entered into a credit agreement with a syndicate of banks, including Wells Fargo Bank, National Association, as administrative agent ("Administrative Agent"), and the other lenders named therein (the "Credit Agreement"), which replaces the 364-Day Credit Agreement among the Borrowers and the Administrative Agent dated June 30, 2023. The Credit Agreement allows for borrowings of up to $2.60 billion, subject to being increased to up to $3.10 billion on the terms described in the Credit Agreement, on a revolving basis. The Credit Agreement is being entered into to facilitate and optimize the Borrowers' available financing commitments for liquidity and working capital needs to meet short-term cash flow and investment timing differences of the Borrowers and certain of their subsidiaries. The Borrowers expect to utilize borrowings under the Credit Agreement on a regular basis in the ordinary course of business. The Credit Agreement is unsecured and has a commitment termination date of June 27, 2025, subject to any extensions of additional 364-day periods with the consent of extending lenders and/or "term-out" of outstanding loans (by which, at the election of the Company, the outstanding loans may be converted to term loans which shall have a maturity of up to one year after the original maturity date), in each case in accordance with the terms of the Credit Agreement. In connection with the Credit Agreement, Athene Life Re entered into a Guaranty, dated as of June 28, 2024 (the "Guaranty"), with the Administrative Agent, pursuant to which Athene Life Re guaranteed all of the obligations of the Company under and in respect of the Credit Agreement and the other loan documents relat

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. Effective as of June 28, 2024, the Credit Agreement replaced the Credit Agreement dated as of June 30, 2023 among the Company, Athene Life Re and the banks party thereto and Wells Fargo Bank, National Association, as administrative agent (the "Expired Credit Agreement") and the commitments under the Expired Credit Agreement have expired.

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 hereunto duly authorized. ATHENE HOLDING LTD. Date: June 28, 2024 /s/ Martin P. Klein Martin P. Klein Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR