debt
confidence high
sentiment neutral
materiality 0.50
WTW subsidiary prices $750M 5.35% senior notes due 2033
WILLIS TOWERS WATSON PLC
- Willis North America priced $750M in 5.350% senior notes maturing 2033.
- Net proceeds ~$742M; $250M to repay 4.625% notes due 2023, rest for general purposes.
- Notes fully guaranteed by WTW and several subsidiary entities.
- Offering expected to close May 17, 2023, subject to customary conditions.
- Joint book-runners: Barclays, BofA, PNC Capital Markets, and others.