Hartford Financial Services Group Inc. has priced the offerings of $600 million of its 2.800% senior notes due 2029 and $800 million of its 3.600% senior notes due 2049.
The interest on the notes will be paid every Feb. 19 and Aug. 19, starting Feb. 19, 2020.
The company expects proceeds, after underwriting discount and before expenses, of about $1.38 billion from the offerings. Part of the net proceeds will be used to retire the existing notes through cash tender offers announced Aug. 8 and intended redemptions.
The remainder of the proceeds will be used for general corporate purposes.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. were joint book-running managers. The senior co-managers were Barclays Capital Inc., BofA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, ING Financial Markets LLC and Wells Fargo Securities LLC. BB&T Capital Markets, BNY Mellon Capital Markets LLC, KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, Academy Securities Inc. and Drexel Hamilton LLC were co-managers.
