Willis Towers Watson PLC unit Willis North America Inc. has priced an offering of $600 million of 4.500% senior unsecured notes due 2028 and $400 million of 5.050% senior unsecured notes due 2048.
Payment of principal and interest on the notes will be fully and unconditionally guaranteed by Willis Towers Watson and certain of its direct and indirect subsidiaries.
Willis North America intends to use the net proceeds to repay existing debts and for general corporate purposes.
The offering is expected to close Sept. 10.
Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., HSBC Bank PLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint book-running managers for the offering. The co-managers are BMO Capital Markets Corp., BNP Paribas Securities Corp., Santander Investment Securities Inc., Standard Chartered Bank and TD Securities (USA) LLC.