Chicago, Aug. 18 – Aon Corp. and Aon Global Holdings plc sold a $1 billion two-part offering of senior notes (Baa2/A-/BBB+) on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The notes are guaranteed by Aon plc and Aon Global Ltd.
Aon sold $400 million of 10-year notes with a 2.05% coupon at 99.712 to yield 2.082%, or at a spread of 80 basis points over Treasuries.
The notes will be redeemable before May 23, 2031 with a make-whole premium of Treasuries plus 15 bps.
A 30-year tranche of notes was also part of the transaction. Aon sold $600 million of 2.9% notes at 99.622 to yield 2.919%, or with a spread of Treasuries plus 100 bps.
The 30-year tranche can be optionally redeemed with a make-whole premium of Treasuries plus 15 bps until three months before the maturity date, when they can be redeemed at par.
Joint bookrunners for the notes are Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC.
Aon is a London-based provider of risk management, insurance and reinsurance brokerage and also human resources solutions and outsourcing services.
| Issuers: | Aon Corp. and Aon Global Holdings plc
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| Guarantors: | Aon plc and Aon Global Ltd.
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| Issue: | Senior notes
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| Amount: | $1 billion
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| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC
|
| Co-managers: | ANZ Securities, Inc., Aon Securities LLC, nabSecurities, LLC, Scotia Capital (USA) Inc. and UniCredit Capital Markets LLC
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| Trade date: | Aug. 18
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| Settlement date: | Aug. 23
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| Ratings: | Moody’s: Baa2
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| S&P: A-
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| Fitch: BBB+
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| Distribution: | SEC registered
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|
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| 2031 notes
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| Amount: | $400 million
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| Maturity: | Aug. 23, 2031
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| Coupon: | 2.05%
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| Price: | 99.712
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| Yield: | 2.082%
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| Spread: | Treasuries plus 80 bps
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| Call features: | Make-whole call at Treasuries plus 15 bps until May 23, 2031; thereafter at par
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| Cusip: | 03740LAA0
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| 2051 notes
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| Amount: | $600 million
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| Maturity: | Aug. 23, 2051
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| Coupon: | 2.9%
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| Price: | 99.622
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| Yield: | 2.919%
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| Spread: | Treasuries plus 100 bps
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| Call features: | Make-whole call at Treasuries plus 15 bps until Feb. 23, 2051; thereafter par call
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| Cusip: | 03740LAB8
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