Howden Group, the global (re)insurance intermediary, has successfully raised approximately US$703 million in gross proceeds following the issuance of an add-on to its existing senior notes, strengthening funding capacity to support future growth initiatives.
The Group completed the issuance of a US$690 million add-on to its existing US$500 million 8.125% Senior Notes due 2032, through a private offering conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.
The additional notes were issued at 101.875% of par, reflecting strong investor demand. Proceeds from the transaction will be used to further bolster Howden’s financial flexibility and investment capacity as the Group continues to pursue strategic growth opportunities. The additional notes are expected to be listed on the Official List of The International Stock Exchange.
Mark Craig, Group Chief Investment Officer at Howden, commented:
“I’m delighted with the outcome and strong support from the capital markets. This successful transaction follows our high yield bond issue in February 2024. We received strong demand and priced the offering above par, benefitting from continued confidence among credit investors in Howden’s sustained performance and growth plans.”
As part of the transaction, Howden’s credit ratings were reaffirmed in January 2026, with Moody’s maintaining a B2 Stable rating and S&P affirming a B Stable rating.
The Group also highlighted its long-dated maturity profile, noting that it has no material refinancing requirements until 2030, providing additional balance sheet resilience and flexibility.
