An offering totalling up to $350 million of senior notes has been launched by a subsidiary of Axis Capital Holdings Limited.

The US dollar-denominated, ten-year, senior, unsecured notes from Axis Speciality Finance Plc are fully and unconditionally guaranteed by Axis Capital, pursuant to an effective shelf registration statement, the company said.

Axis Speciality Finance will apply to list the notes on the Bermuda Stock Exchange.

It is intended to use the proceeds from any notes offering for repayment or redemption of its 2.650 per cent senior notes due 2019, and for general corporate purposes.