Summary
Aon plc filed an 8-K on May 20, 2015, reporting on the issuance of $600 million in 4.750% Senior Notes due 2045. These notes are guaranteed by Aon Corporation and were issued under an Amended and Restated Indenture. The net proceeds from this offering are expected to be approximately $591.5 million. Investors should note that the company plans to use these proceeds for general corporate purposes. This includes potential funding for acquisition opportunities, repurchasing Aon's Class A Ordinary Shares, and repaying a portion of its 3.50% senior notes due in September 2015. The filing provides details on the underwriting agreement and the indenture, which are incorporated by reference.
Key Highlights
- 1Aon plc issued $600 million in aggregate principal amount of 4.750% Senior Notes due 2045.
- 2Aon Corporation provides a full and unconditional guarantee for the issued Senior Notes.
- 3The offering is conducted under a Registration Statement on Form S-3.
- 4Net proceeds from the offering are estimated to be approximately $591.5 million.
- 5Proceeds are earmarked for general corporate purposes, including potential acquisitions.
- 6Funds may be used for share repurchases (Class A Ordinary Shares).
- 7The offering will also support the repayment of Aon's 3.50% senior notes due September 2015.
Frequently Asked Questions
This 8-K filing announces and provides details regarding Aon plc's offering and sale of $600 million in 4.750% Senior Notes due 2045, along with the guarantee from Aon Corporation.
Aon plc intends to use the net proceeds for general corporate purposes, which may include funding acquisition opportunities, repurchasing its Class A Ordinary Shares, and repaying its 3.50% senior notes due September 2015.
The new Senior Notes carry a coupon rate of 4.750% and mature in 2045.
Aon Corporation, the Guarantor, is providing a full and unconditional guarantee for the 4.750% Senior Notes due 2045.