Chubb Limited Announces Pricing of $1.6 Billion Senior Notes Offering by Subsidiary
Chubb Limited Announces Pricing of $1.6 Billion Senior Notes Offering by Subsidiary |
[15-November-2021] |
ZURICH, Nov. 15, 2021 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced today that its subsidiary, Chubb INA Holdings Inc., has priced a public offering of $600 million of 2.85% senior notes due 2051 and $1.0 billion of 3.05% senior notes due 2061. The notes are guaranteed by Chubb Limited. Chubb intends to use the net proceeds from this offering to fund up to $1.1 billion of the purchase price associated with its previously announced agreement to acquire Cigna's personal accident, supplemental health and life insurance business in seven Asia-Pacific markets. Chubb intends to use the remainder of the net proceeds for general corporate purposes, including the repayment at maturity of its 2.70% senior notes due March 13, 2023. The joint book-running managers for the offering are BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC. This press release is for informational purposes only and 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 offer, solicitation or 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, copies of which may be obtained by calling BofA Securities, Inc. at 1-800-294-1322, Morgan Stanley & Co. LLC at 1-866-718-1649 or Wells Fargo Securities, LLC at 1-800-645-3751. 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 Chubb Cautionary Statement Regarding Forward-Looking Statements:
SOURCE Chubb Limited | ||
Company Codes: NYSE:CB |
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