Summary
Marsh & McLennan Companies, Inc. (MMC) filed an 8-K on June 25, 2002, to announce the extension of its ongoing offer to exchange its registered senior notes for outstanding unregistered senior notes. This offer involves up to $500 million in 5.375% Senior Notes due 2007 and $250 million in 6.25% Senior Notes due 2012. The expiration date has been pushed back to July 1, 2002. As of June 24, 2002, a significant portion of the notes had already been tendered, indicating strong participation in the exchange offer. This extension provides holders of the restricted notes additional time to consider the exchange, which is designed to bring the company's debt into a registered form. The filing also includes standard disclosures regarding the terms of the offer and forward-looking statements, which are particularly relevant given the economic uncertainties and the impact of the September 11th attacks mentioned within the press release.
Key Highlights
- 1Marsh & McLennan Companies (MMC) extended its offer to exchange unregistered senior notes for registered senior notes.
- 2The exchange offer involves up to $500 million of 5.375% Senior Notes due 2007 and $250 million of 6.25% Senior Notes due 2012.
- 3The expiration date for the exchange offer has been extended to July 1, 2002.
- 4As of June 24, 2002, $466.4 million of 2007 Restricted Notes and $249.845 million of 2012 Restricted Notes had been tendered.
- 5Holders of restricted notes can withdraw their tendered notes at any time before the expiration date.
- 6The filing attaches a press release dated June 25, 2002, detailing the extension and offer status.
- 7The company reiterates its commitment to providing timely and accurate information to investors, including updates on its website.