By Andrea Heisinger
Omaha, Feb. 7 - ACE INA Holdings Inc. priced $300 million of 5.8% 10-year senior notes Thursday to yield Treasuries plus 215 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A-/A) have a price of 99.916 to yield 5.81%. They have a make-whole redemption option of Treasuries plus 35 bps.
Banc of America Securities LLC was the bookrunner. Co-managers were Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Wachovia Capital Securities LLC and Mitsubishi UFJ Securities.
Proceeds will pay for a portion of the purchase price of the acquisition of Combined Insurance Company of America from Aon Corp.
The insurance and reinsurance company is based in Philadelphia.
| Issuer: | ACE INA Holdings Inc.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | March 15, 2018
|
| Bookrunner: | Banc of America Securities LLC
|
| Co-managers: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Wachovia Capital Securities LLC and Mitsubishi UFJ Securities
|
| Coupon: | 5.8%
|
| Price: | 99.916
|
| Yield: | 5.81%
|
| Spread: | Treasuries plus 215 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Feb. 7
|
| Settlement date: | Feb. 14
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
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