WTW Prices Offering of $750,000,000 of Senior Notes
May 10 2023 - 6:01PM
Willis Towers Watson Public Limited Company (NASDAQ: WTW) (the
“Company” or “WTW”), a leading global advisory, broking and
solutions company, today announced the pricing of a registered
offering (the “Offering”) by Willis North America Inc. (“Willis
North America”), an indirect wholly-owned subsidiary of the
Company, of $750,000,000 aggregate principal amount of 5.350%
senior unsecured notes due 2033 (the “notes”). Payment of principal
and interest on the notes will be fully and unconditionally
guaranteed by the Company, and certain direct and indirect
subsidiary entities of the Company. The Company expects the
Offering to close on May 17, 2023, subject to the satisfaction of
customary closing conditions.
Willis North America intends to use the net
proceeds of the Offering to (i) repay approximately $250 million
aggregate principal amount of the 4.625% Senior Notes due 2023 and
related accrued interest, which will result in the repayment in
full of the 4.625% Senior Notes due 2023, and (ii) for general
corporate purposes. The joint book-running managers for the
Offering are Barclays Capital Inc., BofA Securities, Inc., PNC
Capital Markets LLC, BNP Paribas Securities Corp., Citigroup Global
Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities
LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC. The
senior co-managers for the Offering are BMO Capital Markets Corp.,
Goldman Sachs & Co. LLC, Lloyds Securities Inc., M&T
Securities, Inc., MUFG Securities Americas Inc., Santander US
Capital Markets LLC, Standard Chartered Bank and TD Securities
(USA) LLC.
The Offering was made pursuant to an effective
shelf registration statement on file with the Securities and
Exchange Commission. The Offering may be made only by means of a
prospectus supplement and accompanying prospectus. Interested
parties may obtain copies of the prospectus and prospectus
supplement by calling Barclays Capital Inc. toll-free at
1-888-603-5847, BofA Securities, Inc. toll-free at 1-800-294-1322
or PNC Capital Markets LLC toll-free at 1-855-881-0697.
This press release does not constitute an offer
to sell or purchase, or a solicitation of an offer to sell or
purchase, any securities. No offer, solicitation, purchase or sale
will be made in any jurisdiction in which such an offer,
solicitation or sale would be unlawful.
About WTW
At WTW, we provide data-driven, insight-led
solutions in the areas of people, risk and capital. Leveraging the
global view and local expertise of our colleagues serving 140
countries and markets, we help organizations sharpen their
strategy, enhance organizational resilience, motivate their
workforce and maximize performance. Working shoulder to shoulder
with our clients, we uncover opportunities for sustainable
success—and provide perspective that moves you.
Contact
INVESTORS
Claudia De La Hoz |
Claudia.Delahoz@wtwco.com
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