Ontario Teachers’-backed Athene Holding launches IPO on NYSE

Bermuda-based retirement services company Athene Holding Ltd has launched an initial public offering of its Class A common shares on the New York Stock Exchange. The shares are expected to be priced at between US$38 and US$42 apiece. At the upper end of its pricing range, the offering would raise US$997.5 million and value the company at about US$7.8 billion, Bloomberg reported. Athene, one of the largest fixed annuity companies in the United States, is backed by Apollo Global Management and Ontario Teachers’ Pension Plan, among other investors.

PRESS RELEASE

Athene Holding Ltd. Announces the Launch of Its Initial Public Offering

November 28, 2016

PEMBROKE, Bermuda–(BUSINESS WIRE)–Bermuda-based Athene Holding Ltd. (“Athene”) announced today the launch of an initial public offering (“IPO”) of its Class A common shares. All of the 23,750,000 Class A common shares to be sold in the IPO are being sold by certain shareholders of Athene, and Athene will not receive any proceeds from the IPO. The IPO price per share is currently expected to be between $38.00 and $42.00. The underwriters may also exercise a 30-day option to purchase up to an additional 3,562,500 Class A common shares from certain of the Athene selling shareholders at the IPO price, less the underwriting discount.

Athene has applied to list its Class A common shares on the New York Stock Exchange under the symbol “ATH.”

Goldman, Sachs & Co., Barclays, Citigroup and Wells Fargo Securities are acting as joint bookrunners of the offering and representatives of the underwriters. Additionally, BofA Merrill Lynch, BMO Capital Markets, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, RBC Capital Markets, BNP PARIBAS, BTIG, Evercore ISI, SunTrust Robinson Humphrey and UBS Investment Bank are acting as bookrunners of the offering. Dowling & Partners Securities LLC, Keefe, Bruyette & Woods, A Stifel Company, Lazard, Rothschild, Sandler O’Neill + Partners, L.P. and The Williams Capital Group, L.P. are acting as co-managers of the offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from Goldman, Sachs & Co. at: Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282; telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Barclays Capital Inc. at: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; telephone: 888-603-5847 or by emailing: Barclaysprospectus@broadridge.com; Citigroup Global Markets Inc. at: Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone: 800-831-9146; or Wells Fargo Securities, LLC at: Wells Fargo Securities, LLC, Attn: Equity Syndicate, 375 Park Avenue, 4th Floor, New York, New York 10152,; telephone: 800-326-5897 or by e-mailing cmclientsupport@wellsfargo.com.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Athene Holding Ltd.

Athene, through its subsidiaries, is a leading retirement services company that issues, reinsures and acquires retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. The products offered by Athene include:

Retail fixed and fixed indexed annuity products;
Co-insurance and reinsurance arrangements with third-party annuity providers; and
Institutional products, such as funding agreements.
Athene’s principal subsidiaries include Athene Annuity & Life Assurance Company, a Delaware-domiciled insurance company, Athene Annuity and Life Company, an Iowa-domiciled insurance company, Athene Annuity & Life Assurance Company of New York and Athene Life Insurance Company of New York, New York-domiciled insurance companies, Athene Life Re Ltd., a Bermuda-domiciled reinsurer, and Athene Deutschland, a German-based life insurance company.

Contacts
Athene Holding Ltd.
Media Contact:
Karen Lynn
+441 279-8460
+1 515 342-3910
klynn@athene.com
or
Investor Relations Contact:
Kristin Southey
+441 279-8527
+1 310 698-4476
ksouthey@athene.com

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Contacts
Athene Holding Ltd.
Media Contact:
Karen Lynn
+441 279-8460
+1 515 342-3910
klynn@athene.com
or
Investor Relations Contact:
Kristin Southey
+441 279-8527
+1 310 698-4476
ksouthey@athene.com

Photo courtesy of Reuters/Chip East