Athene raises $1 billion from private investors
Monday, April 07, 2014 4:48 PM
Athene Holding Ltd. announced it has successfully completed a private placement offering, raising more than $1 billion from investors. The offering, previously announced on Jan. 8, raised $1.048 billion of private equity commitments from leading third-party institutional investors as well as certain existing investors, the Bermuda-based holding company said. The additional equity capital from the funding round will bolster West Des Moines-based Athene USA's efforts to achieve an upgrade to its financial strength ratings and lower its borrowing costs, Athene CEO Jim Belardi said in a release. The offering represented an increase from the company's original $500 million equity commitment target. The offering was priced at $26 per share.