Hanover Insurance Group Announces $500M Senior Notes Offering

The Hanover Insurance Group has priced a $500 million senior notes offering with a 5.50% interest rate due September 1, 2035. The proceeds will be used to repay existing debt and for general corporate purposes. The offering is expected to close on August 21, 2025. Goldman Sachs, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers.

The Hanover Insurance Group Inc. (THG) has priced a registered offering of $500 million aggregate principal amount of senior, unsecured 5.50% notes due September 1, 2035. The company plans to use the net proceeds from the issuance of the Notes to repay its outstanding 7.625% Senior Notes due October 2025, repay or redeem its outstanding 4.500% Senior Notes due April 2026, and for general corporate purposes [1].

The debt offering is expected to close on or around August 21, 2025, subject to customary closing conditions. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC are acting as the joint book-running managers for the offering [1, 2].

The new issuance is strategically designed to lower interest expenses by moving from the higher rate of 7.625% to 5.50%, which is expected to yield significant savings over the next decade. Moreover, this adjustment extends THG's debt maturity profile from 2025/2026 to 2035, providing long-term financial flexibility [3].

Top-tier financial institutions, including Goldman Sachs, J.P. Morgan Securities, and Morgan Stanley, are acting as joint book-running managers for the offering, showcasing substantial institutional confidence in THG's financial stability and creditworthiness [3]. The offering is being made pursuant to an effective shelf registration filed with the Securities and Exchange Commission (SEC) on August 18, 2025 [2].

Investors can acquire additional information through the SEC website or by contacting the joint book-running managers directly.

References:
[1] https://www.nasdaq.com/articles/hanover-insurance-prices-offering-500-mln-senior-unsecured-550-notes-due-sept-1-2035
[2] https://www.marketscreener.com/news/the-hanover-insurance-group-inc-announces-pricing-of-500-million-senior-notes-offering-ce7c51d2d880f425
[3] https://www.gurufocus.com/news/3070072/the-hanover-insurance-group-inc-announces-pricing-of-500-million-senior-notes-offering-thg-stock-news?mobile=true