Summary
Aon plc (AON) announced on May 1, 2019, via an 8-K filing, the successful completion of a senior notes offering. The company and its guarantor, Aon Corporation, issued $750 million in aggregate principal amount of 3.750% Senior Notes due 2029. This issuance was made under a previously filed registration statement and is backed by a full and unconditional guarantee from Aon plc. The net proceeds from this offering are estimated to be approximately $743 million, after deducting underwriting discounts and expenses. Aon plc intends to utilize these funds to reduce its outstanding commercial paper obligations and for general corporate purposes. This strategic move suggests a focus on optimizing the company's capital structure and managing its short-term debt.
Key Highlights
- 1Aon plc successfully priced $750 million of 3.750% Senior Notes due 2029.
- 2Aon Corporation is the issuer, with Aon plc providing a full and unconditional guarantee.
- 3The offering was conducted under a Registration Statement on Form S-3.
- 4Net proceeds are estimated at approximately $743 million.
- 5Proceeds will be used to pay down outstanding commercial paper.
- 6Remaining proceeds will be used for general corporate purposes.
- 7The issuance strengthens Aon's long-term debt profile and liquidity.