ZURICH--May 21, 2014--(BUSINESS WIRE)--ACE Limited (NYSE: ACE) announced today that its subsidiary, ACE INA Holdings Inc., has agreed to sell $700 million of 3.35% senior notes due May 2024. The notes are guaranteed by ACE Limited.
The net proceeds from the sale of the notes will be used to repay at maturity $700 million of the company’s 2.60% senior notes maturing in November 2015. Pending such application, the company may make the net proceeds available to its subsidiaries or invest them in marketable securities.
The joint book-running managers for the offering are Goldman, Sachs & Co., J.P. Morgan Securities LLC, ANZ Securities, Inc. and Mitsubishi UFJ Securities (USA), 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 supplement and accompanying prospectus. When available, copies of these documents may be obtained from: J.P. Morgan Securities LLC at 383 Madison Avenue, New York, NY 10179 Attn: Investment Grade Syndicate Desk – 3rd floor, or by calling 212-834-4533; or Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com.
Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the SEC Web site at www.sec.gov.
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
Contact:
ACE Limited
Investor Contact: Helen M. Wilson, 441-299-9283
helen.wilson@acegroup.com
or
Media Contact: Jeffrey Zack, 212-827-4444
jeffrey.zack@acegroup.com