Aon plc is preparing senior notes due from 2029 through 2056, with USI Acquisition Notes subject to Redemption at 101% if the transaction is not completed by June 1, 2027. The notes will carry full and unconditional guarantees from Aon plc and affiliates, while proceeds are earmarked partly for acquisition-related payments.

Key Highlights

  • Aon plc and affiliates will provide full and unconditional guarantees covering principal and interest on the notes.
  • Proceeds are intended to fund cash consideration, USI Debt repayment, and related fees, premiums and expenses.
  • The notes may be redeemed at 100% of principal plus accrued interest following certain withholding-tax changes.

Aon plc (NYSE: AON) is preparing senior notes due from 2029 through 2056, with the USI Acquisition Notes redeemable at 101% if the USI Acquisition is not completed by June 1, 2027. The 2056 Notes are excluded from that special mandatory redemption provision.

Senior Notes Span 2029 Through 2056

Aon North America, Inc. and Aon Global Holdings plc will co-issue senior notes maturing in 2029, 2031, 2033, 2036, 2038, 2046 and 2056. Aon plc, Aon Corporation and Aon Global Limited will fully and unconditionally guarantee payment of principal and interest, jointly and severally. The notes and guarantees will be governed by New York law under the indenture dated March 1, 2024. Net proceeds will support general corporate purposes, including cash consideration for the USI Acquisition, repayment of USI debt, and fees, premiums and expenses tied to those uses. The closing of the offering is not conditioned on completion of the acquisition. The issuers may redeem any series at 100% of principal plus accrued and unpaid interest in response to certain withholding-tax changes. Underwriters named for the transaction include Citigroup, BofA Securities, HSBC, Morgan Stanley and Wells Fargo (NYSE: WFC) Securities.