Arthur J. Gallagher & Co. Announces $600 Million Private Placement Debt
ITASCA, Ill., Dec. 23, 2013
ITASCA, Ill., Dec. 23, 2013 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE:
AJG) today announced that the company has entered into a note purchase
agreement for a private placement of $600 million of senior unsecured notes.
The agreement provides for three series of notes:Series H is $325 million at
4.58% due in 2024, Series I is $175 million at 4.73% due in 2026, and Series J
is $100 millionat 4.98% due 2029. Under the agreement, funding is expected to
occur on February 27, 2014.The company intends to use the net proceeds of the
debt transaction primarily to pay down its line of credit facility.
The notes will be issued in a private placement and have not been and will not
be registered under the Securities Act and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
Arthur J. Gallagher & Co., an international insurance brokerage and risk
management services firm, is headquartered in Itasca, Illinois, has operations
in 24 countries and offers client service capabilities in over 140 countries
around the world through a network of correspondent brokers and consultants.
Director – Investor Relations
SOURCE Arthur J. Gallagher & Co.
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