Chubb To Raise $1.2B In New Capital
NU Online News Service, June 17, 4:23 p.m. EDT?The Chubb Corporation has begun a new capital-raising effort thisweek to raise $1.2 billion. The Warren, N.J.-basedproperty-casualty insurer said it will have two separate offeringsconsisting of 13.5 million shares of stock and 16 million equityunits with an amount of $25 per unit.
The joint managers for Chubb's offerings are Citigroup, Goldman,Sachs & Co., and Merrill Lynch, all headquartered in NewYork.
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