Aspen Insurance amends $300 million 4.650% senior notes indenture, limits optional redemption
On June 27, 2019, Aspen Insurance Holdings entered into a fourth supplemental indenture covering its $300,000,000 4.650% senior notes due 2023. The amendment limits the company's right to redeem the notes early, and the company said the changes are intended to let the notes qualify as Tier 3 ancillary capital under Bermuda Monetary Authority rules. The filing says the amendments do not materially adversely affect noteholders, so their consent was not required.
- Notes affected: $300,000,000 aggregate principal of 4.650% senior notes due 2023
- Optional redemption right limited, except when conditions in the fourth supplemental indenture are met
- Purpose: qualify the notes as Tier 3 ancillary capital under Bermuda Monetary Authority eligible capital rules
- No security or encumbrance provided to secure noteholder rights; noteholder consent not required