New Issue: Aon sells $600 million 4.75% notes due 2045 at 170 bps over Treasuries

By Aleesia Forni

Virginia Beach, May 13 – Aon plc sold $600 million of 4.75% 30-year senior notes on Wednesday at Treasuries plus 170 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.

Pricing was at 99.683 to yield 4.77%.

The notes (Baa2/A-/BBB+) are guaranteed by Aon Corp.

Proceeds from the sale will be used for general corporate purposes.

Morgan Stanley & Co. LLC, Barclays, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

The provider of risk management, insurance and reinsurance brokerage and also human resources solutions and outsourcing services is based in London.

Issuer:	Aon plc
Guarantor:	Aon Corp.
Amount:	$600 million
Description:	Senior notes
Maturity:	May 15, 2045
Bookrunners:	Morgan Stanley & Co. LLC, Barclays, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
Co-managers:	ANZ Securities, Inc., Aon Benfield Securities, Inc., BNY Mellon Capital Markets, LLC, Scotia Capital (USA) Inc., Loop Capital Markets LLC, Williams Capital Group, LP
Coupon:	4.75%
Price:	99.683
Yield:	4.77%
Spread:	170 bps over Treasuries
Make-whole call:	30 bps prior to Nov. 15, 2044, then callable at par
Trade date:	May 13
Settlement date:	May 20
Ratings:	Moody’s: Baa2
	Standard & Poor’s: A-
	Fitch: BBB+
Distribution:	SEC registered
Price guidance:	187.5 bps area over Treasuries

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