Travelers Completes $1.25 Billion Notes Offering
The Firm represented The Travelers Companies, Inc. (“Travelers”) in connection with its SEC registered offering of $1.25 billion in aggregate principal amount of its notes, consisting of $500 million in aggregate principal amount of 5.050% Senior Notes due 2035 and $750 million in aggregate principal amount of 5.700% Senior Notes due 2055. Travelers intends to use the net proceeds of the offering for general corporate purposes, including to retire its 7.75% Senior Notes due 2026.
Travelers is a holding company principally engaged, through its subsidiaries, in providing a wide range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals.
The Simpson Thacher team included Mark Brod, Emily Anne Owen and Louise Choi (Capital Markets); Jonathan Cantor and Preston Irace (Tax); Steven DeLott (Insurance); and Pasco Struhs (Executive Compensation and Employee Benefits).