Specialty insurance and reinsurance firm, Fidelis Insurance Holdings Limited, has announced that it plans to raise an additional $125 million of capital via a new debt issuance.
The company announced two separate issuances of 6.625% fixed-rate reset junior subordinated notes due April 1, 2041.
One of these issuances is worth $105 million and the other is worth $20 million.
Fidelis previously announced that it had raised $300 million on June 18th, which put the total amount of capital raised by the firm over the first six months of the year at more than $1 billion.
The week before, Fidelis announced that it had agreed to raise $500 million of equity capital, and in February it raised around $300 million of equity capital from existing stakeholders and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Fidelis is also set to obtain $275 million of fully collateralised property catastrophe reinsurance from its second Herbie Re cat bond this year.
The first Herbie Re cat bond secured the company $125 million back in June.
