ZURICH--(BUSINESS WIRE)--
ACE Limited (NYSE: ACE) announced today that its subsidiary, ACE INA
Holdings Inc., has agreed to sell $800 million of 3.15% senior notes due
March 2025. The notes are guaranteed by ACE Limited.
Net proceeds from the sale of the notes plus available cash will be used
to repay at maturity $500 million of the company’s 5.70% senior notes
maturing in February 2017 and $300 million of the company’s 5.80% notes
maturing in March 2018. Pending such application, the company may make
the net proceeds available to its subsidiaries or invest them in
marketable securities.
The joint book-running managers for the offering are Citigroup Global
Markets Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and
Wells Fargo Securities, LLC.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the senior notes or any other
securities, nor will there be any sale of the senior notes or any other
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
supplement and accompanying prospectus. When available, copies of these
documents may be obtained from: Citigroup Global Markets Inc. c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, N.Y.
11717, by email: prospectus@citi.com
or by calling 1-800-831-9146; or Morgan Stanley & Co. LLC, 180 Varick
Street, New York, N.Y. 10014, Attention: Prospectus Department, by
email: prospectus@morganstanley.com
or by calling 1-866-718-1649.
Alternatively, the prospectus supplement and accompanying prospectus may
be obtained by visiting EDGAR on the U.S. Securities and Exchange
Commission (SEC) website at www.sec.gov.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index.
Source: ACE Limited