Willis Group Holdings Limited insurance brokerage said its subsidiary, Willis North America Inc., has priced $600 million worth of senior notes at 6.20 percent due 2017.
The London-based company said it intends to apply the net proceeds of the offering for general corporate purposes including repayment of outstanding borrowings under its revolving credit facility and repurchase of common stock pursuant to its stock repurchase program.
Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. are managing the offering.
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