ACE Limited in Bermuda announced today that, subject to market conditions, its subsidiary, ACE INA Holdings Inc., intends to sell up to $300 million of senior notes guaranteed by ACE Limited.
The company said net proceeds from the notes sale plus surplus cash will be used to repay all $300 million of the 8.3 percent notes due August 15.
Lead underwriters for the proposed offering are Banc of America Securities LLC and Wachovia Securities, ACE said.
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