HAMILTON, Bermuda--(BUSINESS WIRE)--ACE Limited (NYSE:ACE) announced today that, subject to market conditions, its subsidiary, ACE INA Holdings Inc., intends to sell $450 million of senior notes. The notes will be guaranteed by ACE Limited.
The net proceeds from the sale of the senior notes will be used to redeem preferred shares.
The joint book-running managers for the proposed offering are Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Wachovia Capital Markets, LLC.
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: Citigroup Global Markets Inc., Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone (877) 858-5407, or J.P. Morgan Securities Inc., 270 Park Avenue, 8th Floor, New York, NY 10017, telephone (212) 834-4533; or Wachovia Capital Markets, LLC, Attn: Syndicate Operations, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, telephone (800) 326-5897. Alternatively, the prospectus may be obtained by visiting EDGAR on the SEC Web site atwww.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 of Companies conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.