New senior notes from a subsidiary of Axis Capital Holdings Limited have been priced at 4 per cent and are due in 2027.

The $350 million of notes from Axis Speciality Finance Plc are fully and unconditionally guaranteed by Axis Capital, pursuant to an effective shelf registration statement.

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.

The offering is expected to close on December 6, subject to customary closing conditions. The notes will be listed on the Bermuda Stock Exchange.

A registration statement relating to the offering has been filed with the US Securities and Exchange Commission and is effective.