New Issue: Marsh & McLennan sells $600 million 4.2% 30-year senior notes at 103 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Feb. 27 – Marsh & McLennan Cos., Inc. priced an upsized $600 million of 4.2% 30-year senior notes (Baa1/A-) on Tuesday at a spread of 103 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.

The deal was upsized from $500 million and priced on the tight side of guidance in the Treasuries plus 105 bps area.

The company sold the notes at 99.594 to yield 4.224%.

Citigroup Global Markets Inc., Goldman Sachs & Co., Barclays and HSBC Securities (USA) Inc. were the bookrunners.

Proceeds will be used for general corporate purposes.

The professional services firm is based in New York.

Issuer:	Marsh & McLennan Cos., Inc.
Amount:	$600 million
Description:	Senior notes
Maturity:	March 1, 2048
Bookrunners:	Citigroup Global Markets Inc., Goldman Sachs & Co., Barclays and HSBC Securities (USA) Inc.
Co-managers:	BNY Mellon Capital Markets, LLC, GC Securities, RBC Capital Markets, LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC
Coupon:	4.2%
Price:	99.594
Yield:	4.224%
Spread:	Treasuries plus 103 bps
Call features:	Make-whole call at greater of par or Treasuries plus 20 bps before Sept. 1, 2047; thereafter at par
Trade date:	Feb. 27
Settlement date:	March 1
Ratings:	Moody’s: Baa1
	S&P: A-
Distribution:	SEC registered
Price talk:	Treasuries plus 105 bps area

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