Hartford Subsidiary Agrees to Sell Senior Notes; Offers Trust Preferred Securities
The Hartford Financial Services Group’s Hartford Life Inc. subsidiary has agreed to sell $400 million in senior notes at 7.375 percent.
The underwriters for the debt offering are Banc of America Securities LLC and J.P. Morgan. Settlement is scheduled to occur on March 1, 2001. Hartford Life also is offering $200 million of trust preferred securities.
The net proceeds of the offerings will be used to finance The Hartford’s recently announced acquisition of Fortis Financial Group.
Popular Today
- Alabama Pharmacy, Not Agent, at Fault for Not Reading Policy Before $5M Judgment
- Florida AG Says His Office Investigating ‘Anti-Public Adjuster’ Endorsements in Policies
- Chubb Q3 Net Income Down Slightly on More Catastrophe Losses
- Adjuster Created Law Firm and Fake Claim to Defraud Insurer of $1M, Officials Charge