Chubb INA Holdings offers guaranteed notes via three bookrunners

By Mary-Katherine Stinson

Lexington, Ky., March 4 – Chubb INA Holdings Inc. plans to price fixed-rate senior notes guaranteed by Chubb Ltd., according to a 424B3 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call and then a par call. The notes will also be callable in whole at par for tax reasons.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC are the joint bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Legal counsel for Chubb Ltd. and Chubb INA will be provided by Mayer Brown LLP. Certain legal matters with respect to Swiss law will be passed upon for Chubb Ltd. by Bar & Karrer AG. Simpson Thacher & Bartlett LLP represents the underwriters.

All of the net proceeds will be received outside Switzerland and will be used in a way which will not constitute a detrimental use of proceeds in Switzerland for Swiss withholding tax purposes. Chubb INA intends to use the proceeds for general corporate purposes, including the repayment at maturity of the $700 million of its outstanding 3.35% senior notes due May 15, 2024.

Chubb INA is a Philadelphia-based holding company and has no direct insurance operations. Parent company Chubb is an insurance provider based in Zurich.

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