AXIS Capital Holdings’s Depositary Shares Offering

Cravath represented the underwriters, led by Bank of America Merrill Lynch, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities, in connection with the US$550 million offering of depositary shares representing preferred stock of AXIS Capital Holdings Limited, a provider of specialty insurance and treaty reinsurance on a global basis. The shares were listed on the New York Stock Exchange. The transaction closed on November 7, 2016.

The Cravath team included partner Andrew J. Pitts and associate Janet Kyung Ah Yu. Virginia M. Anderson also worked on this matter.