Company: AHL
Filing Date: 2025-06-11
Form Type: 424B5
Source: 0001628280-25-030754
Chunk: 14

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-06-11
Form: 424B5
Chunk 14
---
 to Redemption and Repayment ” and “ Description of Notes—Events of Default .”

To the extent a secondary market develops for the notes, the market price of the notes may be adversely affected if repayment of the notes has been deferred. If repayment of the notes has been deferred or if investors perceive that there is a likelihood that repayment of the notes will be deferred, the market for the notes may become less active or be discontinued during such a deferral period, and the market price of the notes may be lower and/or more volatile than the market prices of other securities that are not subject to deferral.

The indenture under which the notes will be issued contains only limited protection for holders of the notes in the event we are involved in a reorganization, restructuring, merger or similar transaction in the future.

The indenture under which the notes will be issued may not sufficiently protect holders of the notes in the event we are involved in a reorganization, restructuring, merger or similar transaction. The indenture does not contain any provisions restricting our or any of our subsidiaries’ ability to incur additional debt, including additional senior debt, pay dividends on or purchase or redeem capital stock, sell assets (other than certain restrictions on our ability to consolidate, merge or sell all or substantially all of our assets and our ability to sell the stock of certain subsidiaries), enter into transactions with affiliates, create liens (other than certain limitations on creating liens on the stock of certain subsidiaries) or enter into sale and leaseback transactions, or create restrictions on the payment of dividends or other amounts to us from our subsidiaries.

We may, subject to the BMA Redemption Requirements, redeem the notes prior to the Final Maturity Date, which may adversely affect your return.

We may, at our option, redeem some or all of the notes at any time or from time to time at the applicable redemption price and subject to the terms described in “ Description of Notes—Optional Redemption .” We may also redeem the notes in certain circumstances as described under “ Description of Notes—Redemption for Tax Purposes .” If we choose to redeem the notes, subject to the BMA Redemption Requirements, prevailing interest rates at the time of redemption may be lower than the interest rate on the notes. As a result, you may not be able to reinvest the redemption proceeds in a comparable security at an interest rate equal to or higher than the interest rate on the notes. In addition, the redemption of the notes may be a taxable event to you for U.S. federal income tax purposes.

Credit ratings