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Ҵý Financial Prices $500 Million Offering Of Senior Notes

CHICAGO, Aug. 11, 2020 /PRNewswire/ --Ҵý Financial Corporation (NYSE: Ҵý) today announced that it has priced $500 million aggregate principal amount of 2.050% senior notes due August 15, 2030 in a public offering. The notes are being offered to the public at 99.748% of the principal amount with a yield to maturity of 2.078%. Ҵý expects the offering to close on August 14, 2020, subject to the satisfaction of customary closing conditions.

Ҵý intends to use the net proceeds from the offering to repurchase, redeem, repay or otherwise retire the $400million outstanding aggregate principal balance of its 5.750% senior notes due August 15, 2021 and any remaining net proceeds for general corporate purposes.Pending such application, Ҵý intends to invest the net proceeds of this offering in short term interest-bearing securities.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Barclays Capital Inc., U.S. Bancorp Investments, Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. An electronic copy of the final prospectus supplement and accompanying prospectus will be available at the Securities and Exchange Commission's website at . In addition, a copy of the final prospectus supplement and accompanying prospectus relating to this offering may also be obtained, when available, from:

J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, telephone (212) 834-4533; or

Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2ndAvenue South, Minneapolis, MN 55402, telephone (800) 645-3751; or

BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, telephone: 800-294-1322; or

Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NJ 11717, telephone (800) 831-9146.

The offering is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities.

About Ҵý
Ҵý is one of the largest U.S. commercial property and casualty insurance companies. Ҵý provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by 120 years of experience and approximately $45 billion of assets.

Forward-Looking Statement
This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as "believes", "expects", "intends", "anticipates", "estimates", and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by Ҵý and include Ҵý's successful completion of the offering and the satisfaction of other customary conditions to the closing of the repurchase, redemption, repayment or retirement of its 5.750% senior notes due August 15, 2021. For a detailed description of these risks and uncertainties please refer to Ҵý's most recent 10-K and 10-Q for the quarter ended June 30, 2020 on file with the Securities and Exchange Commission.

Any forward-looking statements made in this press release are made by Ҵý as of the date of this press release. Further, Ҵý does not have any obligation to update or revise any forward-looking statement contained in this press release, even if Ҵý's expectations or any related events, conditions or circumstances change.

CONTACTS:




MEDIA:

ANALYSTS:

Brandon Davis, 312-822-5167

Amy C. Adams, 312-822-5533

SOURCE Ҵý Financial Corporation