The financial services and insurance company said that the offer is pursuant to an existing shelf registration statement. The company plans to use the net proceeds for the redemption of $500 million aggregate principal amount of its 7.45% Junior Subordinated Deferrable Interest Debentures due 2050 underlying all outstanding 7.45% Trust Originated Preferred Securities, Series C, issued by Hartford Capital III; the pre- funding of $200 million of payments due at the maturity of Hartford Life, Inc.'s 7.10% Notes, due June 15, 2007, of which $200 million are outstanding; the pay down of approximately $200 million of its commercial paper; and other general corporate purposes.
The joint book-running managers for the debt offering are Banc of America Securities LLC, Merrill Lynch & Co. and Wachovia Securities.
