Aon to price guaranteed dollar notes

By Rebecca Melvin

New York, May 12 – Aon Corp. is offering guaranteed senior notes denominated in U.S. dollars, according to a 424B5 filing with the Securities and Exchange Commission.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Barclays and J.P. Morgan Securities LLC are joint bookrunning managers of the deal.

The notes have a make-whole call and are then redeemable at par.

The company plans to use $600 million of the proceeds to repay its 5% senior notes due on Sept. 30. Remaining proceeds are earmarked to repay other borrowings and for general corporate purposes.

The notes are guaranteed by Aon plc and are not conditioned on the completion of its merger with Willis Towers Watson plc.

Aon is a London-based provider of risk management, insurance and reinsurance brokerage and also human resources solutions and outsourcing services.

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