Athene Completes $1B Senior Notes Offering
Deal News | May 19, 2025 | Fried Frank
Athene Holding Ltd., a prominent player in the retirement services industry, has successfully completed an issuance of $1 billion in aggregate principal amount of 6.625% senior notes due in 2055. This strategic financial move aims to bolster Athene's capital resources to meet the retirement savings needs of a growing demographic, both individuals and institutions, looking to secure their financial futures. Fried Frank, acting as counsel, advised key financial entities Morgan Stanley & Co. LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC that served as underwriters for this transaction. The counsel team from Fried Frank was led by corporate partners Daniel J. Bursky and Lee T. Barnum.
Sectors
- Financial Services
- Legal Services
Geography
- United States – The financial institutions involved and Athene's operations are largely U.S.-based, indicating the geographic relevance of the United States in this transaction.
Industry
- Financial Services – The issuance of senior notes by Athene and the involvement of multiple financial advisors and underwriters indicates the financial services sector's focus on capital markets and retirement planning.
- Legal Services – Fried Frank, a law firm, played an integral role as legal counsel in the structuring and execution of the senior notes offering.
Financials
- $1 billion – The total aggregate principal amount of the senior notes issued by Athene.
- 6.625% – The interest rate attached to the senior notes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Athene Holding Ltd. | Issuer | Company | A leading retirement services company involved in issuing the senior notes. |
| Morgan Stanley & Co. LLC | Underwriter | Company | One of the underwriters for the note issuance. |
| BofA Securities, Inc. | Underwriter | Company | Acted as one of the underwriters for the issuance. |
| Goldman Sachs & Co. LLC | Underwriter | Company | Served as an underwriter in the transaction. |
| J.P. Morgan Securities LLC | Underwriter | Company | Another key underwriter for the senior notes offering. |
| Fried Frank | Legal Advisor | Company | Provided legal counsel to the underwriters. |
| Daniel J. Bursky | Corporate Partner | Person | Led the legal team at Fried Frank for the transaction. |
| Lee T. Barnum | Corporate Partner | Person | Co-led the legal team at Fried Frank for the transaction. |