Willis North America launches tender offer for 5.125% notes due 2010

By Angela McDaniels

Tacoma, Wash., Sept. 22 - Willis North America Inc. has begun a tender offer for its $250 million of 5.125% senior notes due 2010, according to a company news release.

Holders will receive $1,027.50 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date.

The tender offer will expire at 11:59 p.m. ET on Sept. 29.

Completion of the offer is subject to the completion of a concurrent offering by Willis North America of not less than $250 million principal amount of unsecured senior debt securities.

J.P. Morgan Securities Inc. (866 834-4666) is the dealer manager, and Global Bondholder Services Corp. (866 470-4200) is the information agent.

Willis North America is a subsidiary of New York-based insurance broker Willis Group Holdings Ltd.

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