CNA Financial has raised $400 million through a sale of senior unsecured notes. The Illinois-based company plans to use all of the net proceeds to repurchase, pay back and retire the $400 million remaining aggregate principal balance of its senior notes.
The notes carry a coupon rate of 5.750% and are due to mature on Aug. 15, 2021. The financial services company appointed Bank of America Merrill Lynch, JP Morgan and Wells Fargo Securities as the joint bookrunning managers on the deal.
Click here for the release from Business Wire.