Aon ties up $2.5 billion for Hewitt deal

By Reuters
Posted Aug. 16, 2010 at 9:52 a.m.

Aon Corp. said it entered into credit agreements for up to $2.5 billion to fund its recent acquisition of Hewitt Associates.

The world’s largest insurance brokerage said it entered into a three-year unsecured term loan facility of up to $1 billion and also for an unsecured bridge loan of up to $1.5 billion.

The proceeds from the borrowings will be used to fund all or part of its acquisition of human-resource services firm Hewitt Associates, the insurance broker said in a regulatory filing on Monday.

Last month, Chicago-based Aon agreed to buy Hewitt for $4.9 billion to create the world’s largest human resource services company.

Aon’s shares, which have fallen 13 percent in the last three months, were down about a percent at $36.68 in early trade on the New York Stock Exchange.

Read more about the topics in this post: ,

Companies in this article


Read more about this company »

Hewitt Associates

Read more about this company »

Comments are closed.