Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
02 Dezember 2021 - 12:52PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For the month of December 2021
Commission File Number: 001-31909
ASPEN INSURANCE HOLDINGS LIMITED
(Translation of registrant’s name into English)
141 Front Street
Hamilton HM 19
Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ý
Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): Yes
¨
No
ý
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): Yes
¨
No
ý
On December 1, 2021, Aspen Insurance Holdings Limited (the
“Company”) and seven of its wholly-owned (directly or indirectly)
subsidiaries (collectively, with the Company, the “Borrowers”)
entered into a Third Amended and Restated Credit Agreement with
Barclays Bank plc, as administrative agent, the several lenders and
other financial institutions party thereto (the “Credit
Agreement”), which amends and restates the Second Amended and
Restated Credit Agreement, dated as of March 17, 2017, among the
Company, certain subsidiaries thereof, Barclays Bank plc, as
administrative agent, the several lenders and other financial
institutions party thereto, as amended from time to time (the
“Existing Credit Agreement”). The Credit Agreement will be used by
the Borrowers to finance the working capital needs of the Company
and its subsidiaries and for general corporate purposes. Initial
availability under the facility is $300,000,000 and the Company has
the option (subject to the terms of the Credit Agreement) to
increase the total commitments under the (the “Credit Agreement”)
by up to $100,000,000. The facility is due to expire on December 1,
2026.
On the closing date for the facility, $100,000,000 was outstanding
under the Existing Credit Agreement. The fees and interest rates on
the loans and the fees on the letters of credit payable by the
Borrowers under the Credit Agreement are based upon the credit
ratings for the Company’s long-term unsecured senior debt by
Standard & Poor’s Ratings Services and Moody’s Investors
Service, Inc. In addition, the fees for a letter of credit vary
based upon whether the applicable Borrower has provided collateral
(in the form of cash or qualifying debt securities) to secure its
reimbursement obligations with respect to such letter of
credit.
The Credit Agreement requires the Company to maintain a minimum
consolidated tangible net worth and subjects the Company to a
specified percentage limit on total consolidated debt to total
consolidated capitalization, subject to certain limitations and
exceptions. In addition, the Credit Agreement contains certain
customary affirmative and negative covenants, including limitations
with respect to the incurrence of certain types of indebtedness and
liens, certain types of transactions, and certain fundamental
changes. Amounts due under the Credit Agreement may be accelerated
upon an “event of default,” as defined in the Credit Agreement,
such as failure to pay amounts owed thereunder when due, breach of
a covenant, material inaccuracy of a representation, or occurrence
of bankruptcy or insolvency, subject in some cases to cure periods
or collateralization rights.
The foregoing description of the Credit Agreement does not purport
to be complete and is qualified in its entirety by reference to the
Credit Agreement, which is attached as Exhibit 99.1.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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ASPEN INSURANCE HOLDINGS LIMITED |
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Dated: December 2, 2021 |
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By: |
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/s/ Christopher Coleman |
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Name: |
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Christopher Coleman |
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Title: |
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Chief Financial Officer |
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