By Aleesia Forni
Virginia Beach, Nov. 9 – Aon plc sold a $400 million offering of 2.8% senior notes (Baa2/A-/BBB+) due March 15, 2021 on Monday at Treasuries plus 110 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.81 to yield 2.839%.
Guidance was set in the 115 bps area over Treasuries, following initial talk set in the Treasuries plus 135 bps area.
The notes are guaranteed by Aon Corp.
Proceeds from the sale will be used for general corporate purposes.
Citigroup Global Markets Inc., Goldman Sachs & Co., Barclays and Credit Suisse Securities (USA) LLC were 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: | $400 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2021
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Barclays, Credit Suisse Securities (USA) LLC
|
| Co-managers: | Aon Securities Inc., UniCredit Capital Market LLC, U.S. Bancorp Investments Inc., Loop Capital Markets LLC, Williams Capital Group LP
|
| Coupon: | 2.8%
|
| Price: | 99.81
|
| Yield: | 2.839%
|
| Spread: | Treasuries plus 110 bps
|
| Make-whole call: | Treasuries plus 20 bps prior to Feb. 15, 2021, then callable at par
|
| Trade date: | Nov. 9
|
| Settlement date: | Nov. 13
|
| Ratings: | Moody’s: Baa2
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| Standard & Poor’s: A-
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus Treasuries plus 115 bps area, Treasuries plus 135 bps area
|
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