June 15, 2011
Hanover Announces $300M Offering
By Brandon Butler
The Hanover Insurance Group is offering $300 million in senior notes to help finance its planned purchase of English insurance company Chaucer Holdings.
Hanover announced in April its intentions to purchase Chaucer for $510 million.
The Worcester-based insurer is offering $300 million worth of 6.375 percent senior notes that will be due in 2021.
The offering is expected to be completed by June 17.
Goldman Sachs, Morgan Stanley and Wells Fargo Securities, all of New York, are acting as joint book-running managers for the offering.
WBJ Web Partners
Most Recent
Most Recent
0 Comments