Davis Polk Advises Marsh & McLennan Companies, Inc. on Its $250 Million Notes Reopening

Davis Polk advised Marsh & McLennan Companies, Inc. in connection with its SEC-registered offering of $250 million aggregate principal amount of its 4.375% senior notes due 2029. The offering constitutes a further issuance of the 4.375% senior notes due 2029, of which MMC issued $1.25 billion aggregate principal amount on January 15, 2019.

MMC will use the net proceeds from the offering to fund, in part, its pending acquisition of Jardine Lloyd Thompson Group plc., including the payment of related fees and expenses, and to repay certain JLT indebtedness, as well as for general corporate purposes. 

MMC is a global professional services firm offering clients advice and solutions in risk, strategy and people. Its businesses include: Marsh, the insurance broker, intermediary and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and investment related advice and services and Oliver Wyman Group, the management, economic and brand consultancy. With over 65,000 colleagues worldwide and annual revenue of $15 billion, MMC provides analysis, advice and transactional capabilities to clients in more than 130 countries.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Jennifer Ying Lan and Dmitriy Molchanov. Partner William A. Curran and associate Eitan Ulmer provided tax advice. Associate J. Taylor Arabian provided Investment Company Act advice. All members of the Davis Polk team are based in the New York office.