Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 49

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 49
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 subordinated debt indenture dated as of December 10, 2019 among AXIS Finance, as issuer, AXIS Capital, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee. Such junior subordinated debt indenture is referred to in this section as the “AXIS Finance junior subordinated debt indenture.” The AXIS Finance senior debt indenture, the AXIS Finance subordinated debt indenture and the AXIS Finance junior subordinated debt indenture are collectively referred to in this section as the “AXIS Finance indentures.”

The AXIS Finance senior debt indenture is substantially the same as the AXIS Finance subordinated debt indenture and the AXIS Finance junior subordinated debt indenture except that (1) the AXIS Finance senior debt indenture, unlike the AXIS Finance subordinated debt indenture and the AXIS Finance junior subordinated debt indenture, restricts the ability of AXIS Capital to dispose of its restricted subsidiaries and to use the shares of its restricted subsidiaries to secure any of its indebtedness, unless it grants a similar security interest in these subsidiary shares to the holders of the debt securities issued pursuant to the AXIS Finance senior debt indenture and (2) the AXIS Finance subordinated debt indenture and the AXIS Finance junior subordinated debt indenture, unlike the AXIS Finance senior debt indenture, provide for debt securities that are specifically made junior in right of payment to other specified indebtedness of AXIS Finance. None of the AXIS Finance senior debt indenture, the AXIS Finance subordinated debt indenture or the AXIS Finance junior subordinated debt indenture limits the aggregate principal amount of indebtedness that AXIS Finance may issue, or that AXIS Capital may guarantee, from time to time.

Senior, Subordinated and Junior Subordinated Debt Securities

The debt securities will be AXIS Finance’s unsecured senior, subordinated or junior subordinated obligations. The term “senior” is generally used to describe debt obligations that entitle the holder to receive payment of principal and interest upon the happening of specified events prior to the holders of “subordinated” debt and “junior subordinated” debt. The term “subordinated” is generally used to describe debt obligations that entitle the holder to receive payment of principal and interest upon the happening of specified events prior to the holders of “junior subordinated” debt. Events that can trigger the right of (i) holders of senior debt securities to receive payment of principal and interest prior to payments to the holders of subordinated and junior subordinated indebtedness and (ii) holders of subordinated