Chubb Limited (NYSE: CB), a prominent player in the insurance industry globally, has revealed plans through its subsidiary, Chubb INA Holdings Inc., to issue senior notes worth $1 billion with a 5.000% interest rate, set to mature in 2034. These notes, backed by Chubb Limited’s guarantee, will bolster the company’s general corporate funds.
The funds raised from this offering will be allocated to various corporate endeavors, notably including the repayment of the company’s $700 million senior notes carrying a 3.35% interest rate, due on May 15, 2024. Chubb’s decision to engage in new debt issuance aligns with its overarching financial management strategy.
The joint book-running managers for this offering are Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Wells Fargo Securities, LLC. Interested parties can access the prospectus supplement and accompanying prospectus required for the offering through the U.S. Securities and Exchange Commission’s EDGAR website or by contacting the joint book-running managers directly.
Chubb operates across 54 countries and territories, offering a comprehensive suite of insurance products encompassing commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. The company distinguishes itself through its underwriting prowess, robust financial standing, and its commitment to delivering swift and fair claims service.