Willis Group buys back $7 million 5.125% notes due 2010 since year-end

By Susanna Moon

Chicago, March 1 - Willis Group Holdings plc has repurchased $7 million of its $250 million 5.125% senior notes due July 2010 since the end of December, according to a 10-K filing with the Securities and Exchange Commission.

The company said it launched a tender offer on Sept. 22 to repurchase its 5.125% notes at a premium of $27.50 per $1,000 principal amount. It received tenders of about $160 million of the notes and purchased them on Sept. 29.

Willis issued $300 million of 7% senior notes due 2019 in September.

The company noted that there is $83 million of the 5.125% bonds outstanding.

Willis is a London-based insurance broker.

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