NEW YORK, March 17, 2016 /PRNewswire/ -- Loews
Corporation (NYSE: L) announced today that it has priced a public
offering of $500 million aggregate
principal amount of 3.75% Senior Notes due 2026. Loews expects the
offering to close on March 22, 2016,
subject to customary closing conditions. Loews intends to use the
net proceeds from the offering for general corporate purposes.
Barclays and J.P. Morgan are acting as joint book-running
managers for the offering. A copy of the final prospectus
supplement relating to this offering, when available, may be
obtained by contacting:
- Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, barclaysprospectus@broadridge.com, 1-888-603-5847
- J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179; Attn: Investment
Grade Syndicate Desk, Tel: 212-834-4533
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering is being made only through the
prospectus supplement and accompanying base prospectus, which is
part of an effective shelf registration statement filed with the
Securities and Exchange Commission on February 24, 2015.
ABOUT LOEWS CORPORATION
Loews Corporation is a diversified company with three
publicly-traded subsidiaries: CNA Financial Corporation (NYSE:
CNA), Diamond Offshore Drilling, Inc. (NYSE: DO) and Boardwalk
Pipeline Partners, LP (NYSE: BWP); and one wholly owned subsidiary:
Loews Hotels & Resorts.
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the consummation of the
offering described above and the anticipated use of proceeds
therefrom. Forward-looking statements, by their nature, are
subject to a variety of inherent risks and uncertainties that could
cause actual results to differ materially from the results
projected. For a detailed description of these risks and
uncertainties please refer to Loews's most recent 10-K on file with
the Securities and Exchange Commission.
Any forward-looking statements in this press release are made as
of the date hereof only, and, except as required by law, Loews does
not undertake any obligation to update or revise any such
forward-looking statements.
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SOURCE Loews Corporation