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Arthur J. Gallagher to conduct two-part sale of fixed-rate notes
By Devika Patel
Knoxville, Tenn., May 12 – Arthur J. Gallagher & Co. plans to offer fixed-rate senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.
Proceeds will be used to acquire certain Willis Towers Watson plc reinsurance, specialty and retail brokerage operations or for general corporate purposes or other acquisitions if the transaction is not completed. If the transaction is terminated, the company may call the notes at 101 plus interest.
The notes will have a make-whole call initially, then a par call.
BofA Securities Inc. is the bookrunner.
Rolling Meadows, Ill.-based Gallagher is an insurance brokerage and risk management services company.
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