ACE Limited Announces Pricing of $800 Million Senior Notes Offering by Subsidiary
March 09 2015 - 4:15PM
Business Wire
ACE Limited (NYSE: ACE) announced today that its subsidiary, ACE
INA Holdings Inc., has agreed to sell $800 million of 3.15% senior
notes due March 2025. The notes are guaranteed by ACE Limited.
Net proceeds from the sale of the notes plus available cash will
be used to repay at maturity $500 million of the company’s 5.70%
senior notes maturing in February 2017 and $300 million of the
company’s 5.80% notes maturing in March 2018. Pending such
application, the company may make the net proceeds available to its
subsidiaries or invest them in marketable securities.
The joint book-running managers for the offering are Citigroup
Global Markets Inc., Morgan Stanley & Co. LLC, J.P. Morgan
Securities LLC and Wells Fargo Securities, LLC.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the senior notes or any
other securities, nor will there be any sale of the senior notes or
any other securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a
prospectus supplement and accompanying prospectus. When available,
copies of these documents may be obtained from: Citigroup Global
Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, N.Y. 11717, by email: prospectus@citi.com or by
calling 1-800-831-9146; or Morgan Stanley & Co. LLC, 180 Varick
Street, New York, N.Y. 10014, Attention: Prospectus Department, by
email: prospectus@morganstanley.com or by calling
1-866-718-1649.
Alternatively, the prospectus supplement and accompanying
prospectus may be obtained by visiting EDGAR on the U.S. Securities
and Exchange Commission (SEC) website at www.sec.gov.
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index.
ACE LimitedMedia: Jeffrey Zack, 212-827-4444,
jeffrey.zack@acegroup.comInvestors: Helen Wilson, 441-299-9283,
helen.wilson@acegroup.com
DBA Chubb (NYSE:CB)
Historical Stock Chart
From Aug 2024 to Sep 2024
DBA Chubb (NYSE:CB)
Historical Stock Chart
From Sep 2023 to Sep 2024