Travelers plans to price $500 million 30-year senior notes

By Lisa Kerner

Charlotte, N.C., May 4 – Travelers Cos., Inc. is preparing a $500 million offering of senior notes due 2046, according to a 424B3 filing with the Securities and Exchange Commission.

Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used to retire the company’s 6.25% senior notes due 2016, which will mature on June 20, 2016. The notes had $400 million principal amount outstanding as of March 31.

Also, proceeds will be used for general corporate purposes and debt retirement, including the potential redemption of its 6.25% fixed-to-floating junior subordinated debentures due 2067.

The holding company for commercial, property and casualty insurance subsidiaries is based in New York City.

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