Marsh & McLennan Cos. Inc. has priced a $5 billion senior note offering.
The offering consists of $700 million of its 3.500% senior notes due 2020, $1 billion of its 3.875% senior notes due 2024, $1.25 billion of its 4.375% senior notes due 2029, $500 million of its 4.750% senior notes due 2039, $1.25 billion of its 4.900% senior notes due 2049 and $300 million of its floating rate senior notes due 2021.
The company intends to use the net proceeds from the offering to fund, in part, its pending acquisition of Jardine Lloyd Thompson Group PLC and to repay some of Jardine Lloyd Thompson's debts, as well as for general corporate purposes. The closing of the notes offering is not dependent on the closing of the acquisition and is expected to take place Jan. 15.
Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch Pierce Fenner & Smith Inc., Barclays Capital Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC served as joint book-running managers for the offering.
ANZ Securities Inc., BNP Paribas Securities Corp., Drexel Hamilton LLC, GC Securities, PNC Capital Markets LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC and The Williams Capital Group LP are acting as co-managers.