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.
Was this article valuable?
Here are more articles you may enjoy.
How California’s Huge Raises for Fast-Food Workers Will Ripple Across Industries 
Coral Gables, Florida Tops Beverly Hills as Ritziest Home Market in US 
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers 
Allstate Reports $731M in Q1 Pretax Catastrophe Losses 
