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Athene Holding Ltd 5.625% Dep Sh Fixed Rate Non-Cumul Pref Shares Ser B
Ticker Symbol: ATH-B CUSIP: 04686J200 Exchange: NYSE
QUANTUMONLINE.COM SECURITY DESCRIPTION: Athene Holding Ltd., 5.625% Depositary Shares Each Representing a 1/1,000th Interest in a Share of Fixed Rate Perpetual Non-Cumulative Preference Shares, Series B, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/30/2024 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.625% per annum ($1.4125 per annum or $0.353125 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be the 15th calendar day prior to the payment date or such other record date fixed by the board, not more than 60 days or less 10 than days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by these preference shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders. This company may lose its preferential tax rate if it is classified as a Passive Foreign Investment Company in this or a future tax year (see page S-40 of the prospectus for further information).. Following the occurrence of a change in control, the issuer will have the option of redeeming the Depositary Shares at a redemption price equal to $26.00 per depositary share. Within 90 days following the occurrence of a rating agency event, Depositary Shares will be redeemable at a redemption price equal to $25.50 per depositary share (see the prospectus for further information). Following the occurrence of a tax event or a capital disqualification event, the issuer will have the option of redeeming the Depositary Shares at a redemption price equal to $25.00 per depositary share (see the prospectus for further information). This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). This security was NOT rated by Moody’s and rated BBB- by S&P at the date of its IPO. This security was rated BBB- by Fitch Ratings Co. at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (APO)
Notes: January 1, 2022 -- The Company completed the previously announced merger transaction pursuant to the Agreement and Plan of Merger, dated as of March 8, 2021 (the Merger Agreement), by and among the Company, AGM (formerly known as Tango Holdings, Inc.), Apollo Asset Management, Inc. (AAM, formerly known as Apollo Global Management, Inc.), Blue Merger Sub, Ltd. (AHL Merger Sub), and Green Merger Sub, Inc. (AAM Merger Sub). Effective as of 1:00 a.m. Eastern Time on the Merger Effective Date, AAM Merger Sub merged with and into AAM (the AAM Merger), with AAM continuing as a direct subsidiary of AGM. Effective as of 1:01 a.m. Eastern Time on the Merger Effective Date, AHL Merger Sub merged with and into AHL (the AHL Merger and, together with the AAM Merger, the Mergers), with AHL continuing as a direct subsidiary of AGM. As a result of the Mergers, AAM and AHL became direct subsidiaries of AGM.
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IPO - 9/16/2019 - 12.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ATHHF Changed: 9/25/2019
Changed: 1/03/2022
Market Value $300.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 9 West 57th Street, 43rd Floor, New York, NY 10019 |
Main Phone Number |
212-515-3200 |
Fax Number |
Not Available |
Investor Relations
Noah Gunn
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212-822-0540
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CEO - James R. Belardi |
CFO - Martin P. Klein |
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