Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
AXS > SEC Filings for AXS > Form 8-K on 8-Nov-2013All Recent SEC Filings

Show all filings for AXIS CAPITAL HOLDINGS LTD | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AXIS CAPITAL HOLDINGS LTD


8-Nov-2013

Entry into a Material Definitive Agreement, Financial Statements and Ex


Item 1.01 Entry into a Material Definitive Agreement
and Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

On November 6, 2013, AXIS Specialty Limited, a subsidiary of AXIS Capital Holdings Limited (the "Company"), entered into a $170 million secured Letter of Credit Facility (the "Facility") with ING Bank N.V., London Branch ("ING") pursuant to a Letter of Credit Facility Agreement and Security Agreement (collectively, the "Facility Documents"), which are effective immediately.

The Facility is available for the issuance of a Funds at Lloyd's Letter of Credit to support the underwriting capacity to be provided by the Company's subsidiary, AXIS Corporate Capital UK Limited, to the Company's Lloyd's syndicate, AXIS Syndicate 1686, for the 2014 underwriting year of account. The Letter of Credit issued under the Facility will expire no later than July 31, 2018.

The Facility Documents contain customary covenants with which the Company must comply, including a requirement to maintain sufficient collateral to fully secure any issued Letter of Credit. In case of an event of default under the Facility Documents, ING may exercise certain remedies, including the exercise of sole and exclusive control over pledged collateral.

The descriptions of the Facility Documents contained herein are qualified in their entirety by reference to the Letter of Credit Facility Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits
Exhibit No.     Description

10.1            Letter of Credit Facility Agreement, dated as of November 6,
                2013, between AXIS Specialty Limited and ING Bank N.V., London
                Branch.


  Add AXS to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for AXS - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.