Gallagher prices $950M senior notes offering in two tranches (5.500% due 2033, 5.750% due 2053)

Arthur J. Gallagher & Co.

$350M of 5.500% Senior Notes due 2033 and $600M of 5.750% Senior Notes due 2053 issued.
Net interest expense hedged to ~4.0% on 2033 notes and ~4.8% for first 10 years on 2053 notes.
Offering expected to close March 2, 2023; underwriters include BofA Securities and Citigroup.
Notes issued under existing indenture with Bank of New York Mellon as trustee.

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