Global broker Aon is issuing $500m of senior unsecured bonds to repay part of the loan it took out to buy Hewitt Associates.
The new bonds will mature on 27 May 2016 and have a fixed annual interest rate of 3.125%. Rating agency Moody’s has rated the new bonds Baa2. The offering is expected to close on Friday.
Aon took out a $1bn, three-year term loan to help fund the purchase of human resources consultancy Hewitt in October 2010, of which £950m is outstanding. The loan has a variable interest rate of Libor plus 250 basis points – currently 2.71%.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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