Chubb Limited Announces Pricing of $1.3 Billion Senior Notes Offering by Subsidiary

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Jul 29, 2024, 18:25 ET

ZURICH, July 29, 2024 /PRNewswire/ -- Chubb Limited (NYSE: CB) announced today that its subsidiary, Chubb INA Holdings LLC, has priced a public offering of $700 million of 4.650% senior notes due 2029 (the "2029 Notes") and an additional $600 million of its 5.000% senior notes due 2034 (the "2034 Notes" and, together with the 2029 Notes, the "Notes"). The Notes of each series are guaranteed by Chubb Limited.

The 2034 Notes constitute a further issuance of, and will be consolidated and form a single series with, the 5.000% Senior Notes due 2034, of which $1 billion aggregate principal amount was issued on March 7, 2024 (the "Existing 2034 Notes"). The issue price of the 2034 Notes will include accrued interest from, and including, March 7, 2024 to, but excluding, the issue date of the additional 2034 Notes, which is expected to be July 31, 2024. The terms of the 2034 Notes, other than their issue date and issue price, will be identical to the terms of the Existing 2034 Notes.

Chubb intends to use the net proceeds for general corporate purposes, which may include the redemption, repurchase or repayment of outstanding indebtedness, including the repayment of €700 million of its outstanding 0.30% senior notes due December 15, 2024.

The joint book-running managers for the offering are Wells Fargo Securities, LLC, Barclays Capital Inc. and Citigroup Global Markets Inc.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any offer, solicitation or sale of the senior notes or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by calling Wells Fargo Securities, LLC at 1-800-645-3751, Barclays Capital Inc. at 1-888-603-5847 or Citigroup Global Markets Inc. at 1-800-831-9146.

Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide.

Cautionary Statement Regarding Forward-Looking Statements:

Forward-looking statements made in this press release, such as statements regarding use of proceeds, reflect the company's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from these statements. Additional information regarding factors that could cause differences from these forward-looking statements appears in the company's filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.

SOURCE Chubb Limited