Athene establishes ACRA 2 capital vehicle with $640M interest sale to ADIP II; new credit facilities of $1.25B and $2.6B

Athene Holding Ltd.

ALRe sold 50% non-voting economic interest in ACRA 2 to Apollo/Athene Dedicated Investment Program II for ~$640M.
ACRA 2 has $6.5B reserve liabilities as of March 2023; will participate in new inorganic and annuity transactions.
Citi revolving credit facility of $1.25B (expandable to $1.75B) matures June 30, 2028, replacing prior facility.
Wells 364-day revolver of $2.6B (expandable to $3.1B) for liquidity and working capital, replacing July 2022 facility.
Fifteenth Amended and Restated Bye-laws adopted effective July 1, 2023, to reflect ACRA 2 definitional changes.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Athene Holding Ltd.: Adopted Fifteenth Amended and Restated Bye-laws to reflect definitional changes related to the ACRA 2 Framework Agreement (effective 2023-07-01).

Change: bylaw amendment
Effective: 2023-07-01

Exact text from the filing

the Company amended and restated its bye-laws by adopting the Fifteenth Amended and Restated Bye-laws of the Company (the “Fifteenth Amended and Restated Bye-laws”), effective as of July 1, 2023, to reflect definitional changes required in connection with the entrance by the Company and its subsidiaries, as applicable, into the ACRA 2 Framework Agreement and related transaction documents.

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Athene Holding Ltd. filing history →

Source: SEC EDGAR

accession 0001527469-23-000043

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