Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 61

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 61
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 changes that do not materially adversely affect the holders of the affected debt securities.

The AXIS Finance indentures also permit AXIS Finance, AXIS Capital and the trustee, with the consent of the holders of at least a majority in aggregate principal amount of outstanding affected debt securities of all series issued under the relevant indenture, voting as one class, to change, in any manner, the relevant indenture and the rights of the holders of debt securities of each such series issued under that indenture. However, the consent of each holder of an affected debt security is required for changes that:

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extend the stated maturity of, or reduce the principal of, any debt security;

•

reduce the rate or extend the time of payment of interest;

•

reduce any amount payable upon redemption;

•

change the currency in which the principal, any premium or interest is payable;

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•

reduce the amount of any original issue discount debt security that is payable upon acceleration or provable in bankruptcy;

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impair the right to institute suit for the enforcement of any payment on any debt security when due;

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reduce the percentage of the outstanding debt securities of any series required to approve changes to the indenture; or

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modify the guarantees in any manner adverse to the holders.

The AXIS Finance subordinated debt indenture may not be amended to alter the subordination of any outstanding subordinated debt securities without the consent of each holder of then outstanding senior debt securities that would be adversely affected by the amendment. The AXIS Finance junior subordinated debt indenture may not be amended to alter the subordination of any outstanding junior subordinated debt securities without the consent of each holder of then outstanding senior debt securities and subordinated debt securities that would be adversely affected by the amendment.

Subordination Under the AXIS Finance Subordinated Debt Indenture

The AXIS Finance subordinated debt indenture provides that payment of the principal, any premium and interest with respect to debt securities issued under the AXIS Finance 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.

The AXIS Finance subordinated debt indenture defines senior indebtedness as the principal of and any premium and interest on all its indebtedness, whether incurred prior to or after the date of the indenture:

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for money borrowed by AXIS Finance or AXIS Capital;

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for obligations of others that AXIS Finance or AXIS Capital directly or indirectly either assume or guarantee;

•

in respect of letters