NEW YORK--(BUSINESS WIRE)--
The Travelers Companies, Inc. (“Travelers”) (NYSE:TRV) announced today
the final results of its previously announced offer to purchase for cash
(the “Tender Offer”) any and all of its $1.0 billion in outstanding
6.25% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067
(the “Subordinated Debentures”). The Tender Offer expired at 5:00 p.m.,
New York City time, on November 8, 2010. Based on the final tabulation
provided by Global Bondholder Services Corporation, the information
agent for the Tender Offer, $868,356,000 aggregate principal amount of
the Subordinated Debentures, or approximately 87% of the aggregate
principal amount outstanding, were validly tendered, all of which were
accepted for purchase by Travelers at a cost of $911,773,800, plus
accrued and unpaid interest.
For a complete statement of the terms and conditions of the Tender
Offer, holders of the Subordinated Debentures should refer to the Offer
to Purchase dated October 27, 2010. Copies of the Offer to Purchase and
the Letter of Transmittal may be obtained by holders from the
Information Agent, Global Bondholder Services Corporation, at (866)
857-2200.
BofA Merrill Lynch is the Dealer Manager for the Tender Offer. Questions
may be directed to BofA Merrill Lynch, at (866) 292-0070 (toll-free) or
(980) 683-3215 (collect).
All statements in this press release other than statements of historical
facts are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results of matters
addressed in these forward-looking statements involve risks and
uncertainties and may differ substantially from those expressed or
implied. Some of the factors that could cause actual results to differ
are discussed in this press release, under the heading "Risk Factors" in
the company's most recent Form 10-K filed with the Securities and
Exchange Commission and under the heading "Forward-Looking Statements"
in the company's most recent quarterly report on Form 10-Q filed with
the Securities and Exchange Commission.
About Travelers
The Travelers Companies, Inc. is a leading provider of property casualty
insurance for auto, home and business. A component of the Dow Jones
Industrial Average, Travelers has more than 30,000 employees and
generated revenues of approximately $25 billion in 2009. For more
information, visit www.travelers.com.
Source: The Travelers Companies, Inc.
Contact:
The Travelers Companies, Inc.
Media:
Shane Boyd, 917-778-6267
or
Jennifer
Wislocki, 860-277-7458
or
Institutional Investors:
Gabriella
Nawi, 917-778-6844
or
Andrew Hersom, 860-277-0902
or
Individual
Investors:
Marc Parr, 860-277-0779