Summary
Marsh & McLennan Companies, Inc. (MRSH) filed an 8-K on March 15, 2019, to report on the entry into a material definitive agreement regarding the issuance of senior notes. Specifically, the Company entered into an underwriting agreement to issue a total of €1.1 billion in senior notes, split between 1.349% Senior Notes due 2026 and 1.979% Senior Notes due 2030. This debt issuance was registered under an existing shelf registration statement and priced on March 14, 2019. The closing is anticipated for March 21, 2019, subject to customary conditions. The press release announcing the pricing of these notes is also attached as an exhibit. This action indicates the company's strategy to raise capital through debt markets.
Key Highlights
- 1Marsh & McLennan Companies (MRSH) entered into an underwriting agreement on March 14, 2019.
- 2The agreement pertains to the issuance of €1.1 billion in aggregate principal amount of Senior Notes.
- 3The notes are split into two tranches: €550 million of 1.349% Senior Notes due 2026 and €550 million of 1.979% Senior Notes due 2030.
- 4The issuance is being conducted under the Company's effective shelf registration statement filed on July 30, 2018.
- 5The closing of the note sale is expected to occur on March 21, 2019, pending satisfaction of closing conditions.
- 6A press release announcing the pricing of these notes was issued on March 14, 2019.