Arthur J. Gallagher places $275 million notes, Navistar extends note purchase agreement

By Lisa Kerner

Charlotte, N.C., June 2 – Arthur J. Gallagher & Co. privately placed senior unsecured notes totaling $275 million, according to a form 8-K filed with the Securities and Exchange Commission.

The notes were issued as $175 million of 4.4% series Q senior notes due 2026; $75 million of 4.55% series R senior notes due 2028 and $25 million of 4.7% series S senior notes due 2031.

Interest is payable semiannually in arrears on June 2 and Dec. 2, beginning on Dec. 2, 2016.

Itasca, Ill.-based Arthur J. Gallagher is an insurance brokerage and risk management services company.

Navistar International Corp. filed terms of an amended note purchase agreement on May 27 in an 8-K filing with the SEC.

The note purchase agreement was extended to May 27, 2017.

Credit Suisse AG, New York Branch is the managing agent; Credit Suisse AG, Cayman Islands Branch is the committed purchaser; Alpine Securitization Corp. is the conduit purchaser; Bank of America, NA is the administrative agent, as a managing agent and as a committed purchaser; New York Life Insurance Co. is the managing agent and a committed purchaser; and New York Life Insurance and Annuity Corp. is the managing agent and a committed purchaser.

Navistar is a Lisle, Ill.-based manufacturer and seller of commercial and military trucks, buses and diesel engines and a provider of service parts for trucks and trailers.

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