AXIS CAPITAL HOLDINGS LTD FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits - Insurance News | InsuranceNewsNet

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AXIS CAPITAL HOLDINGS LTD FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

Edgar Glimpses

Item 1.01 Entry into a Material Definitive Agreement

AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance
Company
, AXIS Surplus Insurance Company and AXIS Reinsurance Company
(collectively, the "Companies"), each a subsidiary of AXIS Capital Holdings
Limited
, a Bermuda company, are parties to an aggregate $650 million letter of
credit facility with Citibank Europe plc (the "$650 million Facility"). The $650
million
Facility consists of: (i) a $500 million facility and (ii) a $150
million
facility.

On March 31, 2022, the Companies amended the $150 million facility to extend the
expiration date to March 31, 2023, with each letter of credit provided pursuant
to such credit facility having a tenor not to extend beyond March 31, 2024.

The description of the amendment to the credit facility contained herein is
qualified in its entirety by reference to the Deed of Amendment to the Committed
Letter of Credit Facility, which is attached hereto as Exhibit 10.1 and
incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an

          Off-Balance Sheet Arrangement of a Registrant



The disclosure required by this Item 2.03 is included in "Item 1.01 Entry into a
Material Definitive Agreement," which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits





(d) Exhibits



Exhibit
Number     Description of Document
  10.1       Deed of Amendment dated March 31, 2022 to Committed Letter of Credit
           Facility - Facility Number 2 dated March 27, 2017, as amended, by and
           among AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS
           Insurance Company, AXIS Reinsurance Company, AXIS Surplus Insurance
           Company and Citibank Europe plc.

           Cover Page Interactive Data File (embedded within the Inline XBRL
104        document)

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