Company: AXS-PE
Filing Date: 2025-11-04
Form Type: S-3ASR
Source: 0001104659-25-106379
Chunk: 29

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-11-04
Form: S-3ASR
Chunk 29
---
 indenture.” We will issue any junior subordinated debt securities pursuant to a junior subordinated debt indenture to be entered into between AXIS Capital and The Bank of New York Mellon, as trustee. Such junior subordinated debt indenture is referred to in this section as the “junior subordinated debt indenture.” The senior debt indenture, the subordinated debt indenture and the junior subordinated debt indenture are collectively referred to in this section as the “indentures.”

The senior debt indenture is substantially the same as the subordinated debt indenture and the junior subordinated debt indenture except that (1) the senior debt indenture, unlike the subordinated debt indenture and the 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 senior debt indenture and (2) the subordinated debt indenture and junior subordinated debt indenture, unlike the senior debt indenture, provide for debt securities that are specifically made junior in right of payment to other specified indebtedness of AXIS Capital. None of the senior debt indenture, the subordinated debt indenture or the junior subordinated debt indenture limits the aggregate principal amount of indebtedness that we may issue from time to time.

Senior, Subordinated and Junior Subordinated Debt Securities

The debt securities will be our 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 debt securities to receive payment of principal and interest prior to payments to the holders of junior subordinated indebtedness include insolvency, bankruptcy, liquidation, dissolution, receivership, reorganization or an event of default under the senior debt indenture or the subordinated debt indenture