Chubb Limited Announces Pricing of $1.0 Billion Senior Notes Offering by Subsidiary
Chubb Limited (NYSE: CB) announced the pricing of a public offering of $1.0 billion in 1.375% senior notes due 2030, guaranteed by Chubb Limited. The proceeds will be used to repay existing 2.875% senior notes maturing on November 3, 2022. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint book-running managers for this offering. This move is part of Chubb's strategy to manage its debt effectively. The company is recognized as the world's largest publicly traded property and casualty insurance firm, serving clients globally.
- Pricing of $1.0 billion in senior notes reflects strong market confidence.
- Net proceeds planned for repaying higher-rate debt, improving overall interest expenses.
- None.
ZURICH, Sept. 14, 2020 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced today that its subsidiary, Chubb INA Holdings Inc. (Chubb INA), has priced a public offering of
Chubb INA intends to use the net proceeds from this offering plus available cash to repay at maturity the
The joint book-running managers for the offering are Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any offer, solicitation or sale of the senior notes or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146 or J.P. Morgan Securities LLC collect at 212-834-4533.
Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release, such as statements regarding repayments, reflect the company's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially as set forth in these statements. Additional information regarding factors that could cause differences from these forward-looking statements appears in the company's filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
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SOURCE Chubb Limited
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