By Cristal Cody
Tupelo, Miss., Nov. 29 – Aon Corp. sold $350 million of 4.5% 10-year guaranteed senior notes (Baa2/A-/BBB+) on Thursday at a spread of 150 basis points over Treasuries, or 99.735 to yield 4.533%, according to a market source and an FWP filing with the Securities and Exchange Commission.
Price guidance was in the Treasuries plus 155 bps area, plus or minus 5 bps. The notes were initially talked at the Treasuries plus 165 bps area.
Bookrunners were J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and HSBC Securities (USA) Inc.
The notes are guaranteed by Aon plc.
Proceeds will be used to pay down commercial paper and for general corporate purposes.
Aon is a London-based provider of risk management, insurance and reinsurance brokerage and also human resources solutions and outsourcing services.
| Issuer: | Aon Corp.
|
| Guarantor: | Aon plc
|
| Amount: | $350 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 15, 2028
|
| Bookrunners: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and HSBC Securities (USA) Inc.
|
| Co-managers: | Aon Securities Inc., ING Financial Markets LLC, UniCredit Capital Markets LLC and U.S. Bancorp Investments, Inc.
|
| Coupon: | 4.5%
|
| Price: | 99.735
|
| Yield: | 4.533%
|
| Spread: | Treasuries plus 150 bps
|
| Call features: | Make-whole call at greater of par and Treasuries plus 25 bps before Sept. 15, 2028; thereafter at par
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 3
|
| Ratings: | Moody’s: Baa2
|
| S&P: A-
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 155 bps area, plus or minus 5 bps; initial talk at Treasuries plus 165 bps area
|
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