By Marisa Wong and Cristal Cody
Tupelo, Miss., Jan. 28 – Liberty Mutual Group Inc. priced $800 million of 4.3% junior subordinated notes due Feb. 3, 2061 (Baa3/BB+) at par on Wednesday, according to a market source.
BofA Securities Inc. and HSBC Securities (USA) Inc. are bookrunners for the Rule 144A and Regulation S offering.
Liberty Mutual is a Boston-based property and casualty insurance company.
| Issuer: | Liberty Mutual Group Inc.
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| Amount: | $800 million
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| Description: | Junior subordinated notes
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| Maturity: | Feb. 3, 2061
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| Bookrunners: | BofA Securities Inc. and HSBC Securities (USA) Inc.
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| Coupon: | 4.3%
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| Price: | Par
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| Yield: | 4.3%
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| Pricing date: | Jan. 27
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| Ratings: | Moody’s: Baa3
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| S&P: BB+
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| Distribution: | Rule 144A and Regulation S
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