HUB COMPLETES $740M OFFERING OF 8.125% SENIOR NOTES

 

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 Add Title:  HUB COMPLETES $740M OFFERING OF 8.125% SENIOR NOTES
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HUB INTERNATIONAL LIMITED COMPLETES $740.0 MILLION OFFERING OF 8.125% SENIOR NOTES

 

 Location:  Chicago
 Date:    2012-09-18  
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Hub International Limited (“Hub”), a global insurance broker, today announced that it has completed its previously announced offering of $740.0 million aggregate principal amount of 8.125% Senior Notes due 2018 (the “New Senior Notes”) in a private offering. The New Senior Notes were offered to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

Hub intends to use the net proceeds of this offering to purchase any and all of its $305.0 million in aggregate principal amount of 9.00% Senior Notes due 2014 (the “2014 Senior Notes”) and $395.0 million in aggregate principal amount of 10.25% Senior Subordinated Notes due 2015 (the “2015 Subordinated Notes”) tendered in connection with Hub’s concurrent tender offers for the 2014 Senior Notes and the 2015 Subordinated Notes (which included consent solicitations), to redeem any 2014 Senior Notes and 2015 Subordinated Notes that remain outstanding after the completion of the tender offer and to pay fees and expenses in connection therewith. The remaining proceeds from this offering, if any, will be used for general corporate purposes.

The New Senior Notes have not been registered under the Securities Act or the securities laws of any other jurisdictions, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the New Senior Notes, the 2014 Senior Notes or the 2015 Subordinated Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

 

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CONTACT:
MEDIA CONTACTS:
Joseph Hyde
Chief Financial Officer
Hub International Limited
(877) 402-6601

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 SOURCE :   HUB International Limited