The Chubb Corporation announced that the underwriters for the company’s recent offering of common stock purchase warrants and debt securities sold in the form of equity units have exercised in full their over-allotment option to purchase an additional 3,000,000 of equity units, resulting in an increase in the capital to be sold in the offering from $525 million to $600 million.
The company plans to use the net proceeds of the offering, which are expected to be approximately $582 million, for general corporate purposes, including capital contributions to its subsidiaries.
An application to list the Equity Units on the New York Stock Exchange will be made, however, no assurances can be given that the application for listing will be approved. The equity units are expected to be issued on or about Dec. 2.
Topics Underwriting
Was this article valuable?
Here are more articles you may enjoy.
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway 
