Arthur J. Gallagher offers fixed-rate senior notes in two parts

By Marisa Wong

Los Angeles, Feb. 12 – Arthur J. Gallagher & Co. is offering two tranches of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be callable with a make-whole premium until a number of months before the respective maturity date, and then they will be callable at par.

In addition, a change of control will trigger a put option at 101.

BofA Securities, Inc., J.P. Morgan Securities LLC, Barclays, BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the joint bookrunners.

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

Gibson, Dunn & Crutcher LLP is advising the issuer. Cleary Gottlieb Steen & Hamilton LLP is working as counsel for the underwriters.

Proceeds will be used for general corporate purposes, which may include acquisitions, repayment of outstanding debt, capital expenditures, working capital and stock repurchases.

Gallagher is an insurance brokerage, risk management and corporate services company based in Rolling Meadows, Ill.

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