ACE INA sets talk, to price $950 million 10-, 30-year notes Wednesday

By Andrea Heisinger

New York, March 6 - ACE INA Holdings Inc. is pricing $950 million of senior notes (Baa1/A-/A) in two parts on Wednesday, an informed source said.

The offering includes a 10-year tranche talked in the 80 basis points area and a 30-year bond with guidance in the 100 bps area.

Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the active bookrunners. Passive bookrunners are Mitsubishi UFJ Securities (USA) Inc. and Deutsche Bank Securities Inc.

Proceeds, along with available cash on hand if needed, will be used to repay at maturity $500 million of 5.875% senior notes maturing in June 2014 and $450 million of 5.6% senior notes maturing in May 2015.

The notes are guaranteed by ACE Ltd.

The company was last in the U.S. bond market with a $700 million sale of five-year notes on Nov. 18, 2010.

The Bermuda-based holding company for insurance and reinsurance subsidiaries is a unit of Zurich-based ACE Ltd.

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