- The Washington Times - Wednesday, March 18, 2009

NEW YORK (AP) - Marsh & McLennan Cos. said Wednesday it has priced a public offering of $400 million in 9.25 percent senior notes due 2019 and will use the proceeds to repay $400 million of senior notes due this year.

The insurance broker’s $400 million 7.125 percent senior notes mature in June.

The offering is expected to close March 23.

Banc of America Securities, Citigroup Global Markets and JPMorgan Securities served as joint book-running managers for the offering.

Marsh & McLennan shares fell 5 cents to $20.50 in aftermarket trading, having gained 61 cents, or 3.1 percent, to $20.55 during the regular session. The stock has traded between $17.18 and $36.82 during the past 52 weeks.

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