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Axis buys back $250m of preference shares

Bermuda re/insurer Axis Capital Holdings Ltd has spent $250 million buying back 2.46 million of its Series B preference shares through a tender offer.

The shares carried a 7.5 percent token and the company paid a purchase price of $102.81 per share.

Axis said that following the completion of the tender offer, 38,850 Series B Preferred Shares, representing $3.88 million in aggregate liquidation preference, remain outstanding.

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Published April 11, 2012 at 9:46 am (Updated April 11, 2012 at 9:46 am)

Axis buys back $250m of preference shares

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