HAMILTON, Bermuda--(BUSINESS WIRE)--ACE Limited (NYSE:ACE) announced today that its subsidiary, ACE INA Holdings Inc., has agreed to sell $500 million of 5.70% Senior Notes due February 15, 2017. The notes are fully and unconditionally guaranteed by ACE Limited.
The net proceeds from the sale of the senior notes will be used to repay indebtedness.
The joint book-running managers for the offering are Banc of America Securities LLC and Deutsche Bank Securities Inc.
This press release 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 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, a copy of which may be obtained from Banc of America Securities LLC by directing a request for the same to Banc of America Securities LLC, Prospectus Department, NY1-509-03-22, 100 West 33rd Street, 3rd Floor, New York, New York 10001 or Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005. Alternatively, the prospectus may be obtained by visiting EDGAR on the SEC website at www.sec.gov.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.