Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 63

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 63
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 interest with respect to debt securities issued under the AXIS Finance junior subordinated debt indenture will be subordinate and junior in right of payment, to the extent and in the manner set forth in that indenture, to all AXIS Finance’s senior indebtedness and subordinated indebtedness. The definition and description of senior indebtedness in the AXIS Finance junior subordinated debt indenture is the same as the definition and description of senior indebtedness in the AXIS Finance subordinated debt indenture as described above under the caption “— Subordination Under the AXIS Finance Subordinated Debt Indenture.”

The AXIS Finance junior subordinated debt indenture defines subordinated indebtedness as the principal of and any premium and interest on (1) all AXIS Finance’s subordinated indebtedness, whether incurred prior to or after the date of the AXIS Finance junior subordinated indenture, and (2) all deferrals, renewals, extensions and refundings of, and amendments, modifications and supplements to, any such subordinated indebtedness, other than any indebtedness which, by its terms or the terms of the instrument creating or evidencing it, is subordinate in right of payment to or pari passu with the AXIS Finance junior subordinated debt securities.

The AXIS Finance junior subordinated debt indenture does not limit the amount of senior indebtedness or subordinated indebtedness that AXIS Finance can incur.

The holders of all AXIS Finance senior indebtedness and all AXIS Finance subordinated indebtedness will be entitled to receive payment of the full amount due on that indebtedness before the holders of any AXIS Finance junior subordinated debt securities receive any payment on account of such junior subordinated debt securities, in the event:

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of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceedings in respect of us or AXIS Finance or its property; or

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that debt securities of any series are declared due and payable before their expressed maturity because of an event of default other than an insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding in respect of AXIS Finance or its property.

AXIS Finance may not make any payment of the principal or interest on the AXIS Finance junior subordinated debt securities during a continued default in payment of any AXIS Finance senior indebtedness or any AXIS Finance subordinated indebtedness or if any event of default exists under the terms of any AXIS Finance senior indebtedness or any AXIS Finance subordinated indebtedness.

The obligations of AXIS Capital under its guarantees will be junior subordinated obligations of AXIS Capital. As such, the rights of holders