|By PR Newswire||
|December 23, 2013 02:50 PM EST||
ITASCA, Ill., Dec. 23, 2013 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced that the company has entered into a note purchase agreement for a private placement of $600 million of senior unsecured notes. The agreement provides for three series of notes: Series H is $325 million at 4.58% due in 2024, Series I is $175 million at 4.73% due in 2026, and Series J is $100 million at 4.98% due 2029. Under the agreement, funding is expected to occur on February 27, 2014. The company intends to use the net proceeds of the debt transaction primarily to pay down its line of credit facility.
The notes will be issued in a private placement and have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 24 countries and offers client service capabilities in over 140 countries around the world through a network of correspondent brokers and consultants.
CONTACT: Marsha Akin
Director – Investor Relations
SOURCE Arthur J. Gallagher & Co.