Willis Towers Watson Prices $1 Bln Senior Notes Offering

(RTTNews) - Willis Towers Watson Public Limited Company (WTW) announced that Willis North America Inc., its indirect wholly-owned subsidiary, has priced a registered offering of $700 million aggregate principal amount of 4.550% senior unsecured notes due 2031 and $300 million aggregate principal amount of 5.150% senior unsecured notes due 2036.

Payment of principal and interest on the notes will be fully and unconditionally guaranteed by WTW and certain of its subsidiaries. The company expects the offering to close on December 22, 2025, subject to customary closing conditions.

If the previously announced Newfront acquisition is completed, Willis North America intends to use the net proceeds from the offering, along with other funding sources, to pay the acquisition consideration and related expenses. Proceeds will also be used to repay $550 million aggregate principal amount of 4.400% senior notes due 2026, including accrued interest, resulting in full repayment of those notes.

If the Newfront acquisition does not close, Willis North America plans to use the net proceeds, together with cash on hand, to fully repay the 4.400% senior notes due 2026 and redeem the 2036 notes pursuant to a special mandatory redemption. Any remaining proceeds will be allocated for general corporate purposes. The offering is not contingent upon the closing of the Newfront acquisition.