8-KOther Events

TRAVELERS COMPANIES, INC. 8-K Report (Mar 13, 2002)

Filed March 13, 2002For Securities:TRV

Summary

This 8-K filing from The St. Paul Companies, Inc. (which operates under the name Travelers Companies, Inc. in some contexts, though the filing itself refers to The St. Paul Companies, Inc.) details the company's issuance and sale of $500,000,000 aggregate principal amount of its 5.75% Senior Notes due 2007. The offering was registered under the Securities Act of 1933 and completed on March 12, 2002. These Senior Notes were issued in connection with an Indenture agreement with JPMorgan Chase Bank and were purchased by Salomon Smith Barney Inc. and other underwriters. This action indicates the company's strategic move to raise capital through debt financing, which could be for general corporate purposes, expansion, or to refinance existing debt. Investors should note the specific coupon rate and maturity date as key financial terms of this new debt instrument.

Key Highlights

  • 1The St. Paul Companies, Inc. issued and sold $500,000,000 in Senior Notes.
  • 2The Senior Notes carry a fixed interest rate of 5.75% and mature in 2007.
  • 3The debt issuance occurred on March 12, 2002.
  • 4The notes are registered under the Securities Act of 1933, indicating public offering compliance.
  • 5JPMorgan Chase Bank serves as the trustee under the Indenture.
  • 6Salomon Smith Barney Inc. acted as the representative for the underwriters in this transaction.
  • 7The filing includes material agreements such as the Underwriting Agreement, Pricing Agreement, and the Indenture.

Frequently Asked Questions

This filing's primary purpose is to report a significant corporate event: the issuance and sale of $500,000,000 of 5.75% Senior Notes due 2007 by The St. Paul Companies, Inc. It provides details on the terms of the notes, the agreements involved, and the parties responsible for the issuance.

The Senior Notes have an aggregate principal amount of $500,000,000, bear a fixed interest rate of 5.75% per annum, and are due in 2007.

JPMorgan Chase Bank is involved as the trustee under the Indenture. Salomon Smith Barney Inc. acted as the representative of the underwriters, which purchased the Senior Notes.

Issuing Senior Notes means the company is borrowing a substantial amount of money from investors, with a promise to repay the principal on a specific date (2007) and make regular interest payments (5.75% annually). This is a common method for companies to raise capital for various purposes such as expansion, acquisitions, or refinancing existing debt.