Daily Insurance Industry News
Daily Insurance Industry News
Saturday 24th of March 2018
November 18, 2011

Aviva launches $400m US offering

by Gill Montia

Story link: Aviva launches $400m US offering

Aviva launches $400m US offering

Aviva is bolstering its capital position with a public offering of $400 million of 8.25% Capital Securities (notes) in the US market.

The notes pay interest quarterly and have a maturity of 1st December 2041.

Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley and Wells Fargo Securities are joint book-runners.

In September, Aviva completed the sale of RAC, its UK roadside rescue business, to Carlyle Group, for £1 billion.

Accounting profit on disposal is expected to be around £0.6 billion.


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