Aon issues $13.5 billion of notes to help fund USI acquisition

Aon issued $13.5 billion of senior unsecured notes on September 17, 2026, with interest rates ranging from 5.350% to 6.450% and maturities from 2029 through 2056; net proceeds were approximately $13.4008 billion. Aon plans to use the proceeds, along with an expected term loan and potentially cash on hand, to fund its acquisition of USI Advantage Corp., repay certain USI debt and cover related costs; if the acquisition is not completed by the applicable deadline, Aon must redeem the $11.5 billion of USI acquisition notes at 101% of principal plus accrued interest.