Willis North America Inc., a subsidiary of global insurance broker Willis Group Holdings Limited, announced today that it has commenced a registered offering of $250 million aggregate principal amount of its senior unsecured notes due 2019. Payment of principal and interest on the notes will be fully and unconditionally guaranteed by all the direct and indirect parent entities of WNA, including Willis Group Holdings Limited.
The Company intends to use the net proceeds of the offering to purchase any and all of WNA’s outstanding 5.125% Senior Notes due 2010 that are tendered and accepted in the Tender Offer announced separately on September 22, 2009. Any remaining proceeds will be used for general corporate purposes. The public offering will be made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.
The joint book-running managers for the offering are BofA Merrill Lynch and J.P. Morgan Securities Inc. Willis Capital Markets and Advisory served as Transaction Advisor for the Company. Interested parties may obtain a preliminary prospectus supplement and prospectus by contacting BofA Merrill Lynch toll free at (800) 294-1322, or J.P. Morgan Securities Inc., at 270 Park Avenue, New York, NY 10017, Attn: High Grade Syndicate Desk, or at (212) 834-4533.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of senior notes may be made only be means of a prospectus and prospectus supplement.
