Aon subsidiary launches cash tender offers for $3.325B of NFP Corp. notes

Aon plc

Aon's Randolph Acquisition Corp. offers to purchase four series: 6.875% 2028 ($2.075B), 4.875% 2028 ($550M), 7.500% 2030 ($350M), 8.500% 2031 ($350M).
Tender offers include consent solicitations to amend restrictive covenants and release collateral; each tender requires consent.
Early tender deadline: April 15, 2024; expiration: April 30, 2024; settlement expected after closing of NFP acquisition.
Total consideration for fixed-price notes ranges from $1,005 to $1,020 per $1,000 principal, plus accrued interest.
Offers conditioned on consummation of the previously announced NFP acquisition, expected mid-2024.

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