Axis unveils $550mn preference share offering

Bermudian carrier Axis has announced an offering of 22 million
Series E preferred shares totalling $550mn.
The shares each represent a 1/100th ownerships interest in a
share of its 5.5 percent Series E preferred share representing par
value of $0.0125 per share and a liquidation preference of $2,500
per share equivalent to $25 per depositary share.
Underwriters of the offering have also been granted a 30-day
option to purchase up to 2 million additional depositary
shares.
The offering is expecte