Summary
Aon plc filed a Form 8-K on November 26, 2013, reporting on the offering and sale of $350,000,000 aggregate principal amount of its 4.00% Senior Notes due 2023. The issuance was conducted under an Underwriting Agreement with several major financial institutions, acting as representatives of the underwriters. Aon Corporation, a subsidiary, provides a full and unconditional guarantee for these notes.
Key Highlights
- 1Aon plc successfully issued $350 million in 4.00% Senior Notes due 2023.
- 2The notes are guaranteed by Aon Corporation, providing additional security to investors.
- 3Net proceeds from the offering are estimated to be approximately $345.9 million.
- 4Aon plc intends to use the proceeds to repay commercial paper indebtedness.
- 5The remaining proceeds will be used for general corporate purposes.
- 6The offering was made under a Registration Statement on Form S-3, indicating compliance with SEC registration requirements.
Frequently Asked Questions
This 8-K filing announces and provides details regarding Aon plc's offering and sale of $350 million in 4.00% Senior Notes due 2023.
The company plans to use the net proceeds primarily to repay existing commercial paper indebtedness, which carries low interest rates (0.25% to 0.43%), and for general corporate purposes.
The full and unconditional guarantee from Aon Corporation strengthens the creditworthiness of the senior notes, offering investors greater assurance of repayment.
The notes carry a fixed interest rate of 4.00% and mature in 2023.