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.
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