Global insurance and reinsurance company Chubb Limited has announced the pricing of a €1.4 billion senior notes offering, the proceeds of which could be used to fund future acquisitions.
The offering will consist of €700 million of 0.30% senior notes due 2024 and €700 million of 0.875% senior notes due 2029.
The notes were priced by Chubb INA Holdings Inc, and are guaranteed by Chubb Limited.
Chubb INA said that it intends to use the net proceeds from this offering for general corporate purposes, which may include potential mergers and acquisitions opportunities.
Other options under consideration include investments in or loans to subsidiaries, possible strategic investments, capital expenditures and repayments, redemption or refinancing of debt.
The joint book-running managers for the offering are Merrill Lynch International, Barclays Bank PLC, Deutsche Bank AG, London Branch and Wells Fargo Securities.
