Hanover Insurance calls 6.375%, 7.5% notes for redemption

New York, April 22 – Hanover Insurance Group, Inc. will redeem its $300 million of 6.375% notes due 2021 and its $79,995,000 of 7.5% notes due 2020, according to notices from the company.

Both issues will be repaid on May 21, and the redemption price for both will be set using a make-whole formula based on the Treasury rate plus 50 basis points. Holders will also receive accrued interest up to but excluding the date of redemption.

Hanover is a property and casualty insurance company based in Worcester, Mass.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.