ZURICH, July 29,
2024 /PRNewswire/ -- Chubb Limited (NYSE: CB)
announced today that its subsidiary, Chubb INA Holdings LLC, has
priced a public offering of $700
million of 4.650% senior notes due 2029 (the "2029 Notes")
and an additional $600 million of its
5.000% senior notes due 2034 (the "2034 Notes" and, together with
the 2029 Notes, the "Notes"). The Notes of each series are
guaranteed by Chubb Limited.
The 2034 Notes constitute a further issuance of, and will be
consolidated and form a single series with, the 5.000% Senior Notes
due 2034, of which $1 billion
aggregate principal amount was issued on March 7, 2024 (the "Existing 2034 Notes"). The
issue price of the 2034 Notes will include accrued interest from,
and including, March 7, 2024 to, but
excluding, the issue date of the additional 2034 Notes, which is
expected to be July 31, 2024. The
terms of the 2034 Notes, other than their issue date and issue
price, will be identical to the terms of the Existing 2034
Notes.
Chubb intends to use the net proceeds for general corporate
purposes, which may include the redemption, repurchase or repayment
of outstanding indebtedness, including the repayment of €700
million of its outstanding 0.30% senior notes due December 15, 2024.
The joint book-running managers for the offering are Wells Fargo
Securities, LLC, Barclays Capital Inc. and Citigroup Global Markets
Inc.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy any of the senior notes or any other securities, nor will there
be any offer, solicitation or sale of the senior notes or any other
securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a
prospectus supplement and accompanying prospectus, copies of which
may be obtained by calling Wells Fargo Securities, LLC at
1-800-645-3751, Barclays Capital Inc. at 1-888-603-5847 or
Citigroup Global Markets Inc. at 1-800-831-9146.
Alternatively, the prospectus supplement and accompanying
prospectus may be obtained by visiting EDGAR on the U.S. Securities
and Exchange Commission (SEC) website at www.sec.gov.
About Chubb
Chubb is a world leader in insurance. With operations in 54
countries and territories, Chubb provides commercial and personal
property and casualty insurance, personal accident and supplemental
health insurance, reinsurance and life insurance to a diverse group
of clients. As an underwriting company, we assess, assume and
manage risk with insight and discipline. We service and pay our
claims fairly and promptly. The company is also defined by its
extensive product and service offerings, broad distribution
capabilities, exceptional financial strength and local operations
globally. Parent company Chubb Limited is listed on the New York
Stock Exchange (NYSE: CB) and is a component of the S&P 500
index. Chubb maintains executive offices in Zurich, New
York, London, Paris and other locations, and employs
approximately 40,000 people worldwide.
Cautionary Statement Regarding Forward-Looking
Statements:
Forward-looking statements made in this press release, such
as statements regarding use of proceeds, reflect the company's
current views with respect to future events and are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve risks and
uncertainties, which may cause actual results to differ materially
from these statements. Additional information regarding
factors that could cause differences from these forward-looking
statements appears in the company's filings with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made.
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SOURCE Chubb Limited