Willis Group Holdings Limited has announced a $600 million public offering from its subsidiary, Willis North America Inc., consisting of $250 million senior notes at 5.125 percent due 2010 and $350 million senior notes at 5.625 percent due 2015.
Willis said it intends to apply the net proceeds from the offering toward the repayment of the term loan facility under its senior credit facility and for general corporate purposes including acquisitions and funding requirements under its employee pension plans.
Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are acting as joint managers for the offering.
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