WILLIS GROUP HOLDINGS LIMITED FILES REGISTRATION
STATEMENT FOR INITIAL PUBLIC OFFERING OF COMMON
STOCK
London, U.K., May 15, 2001
- Willis Group Holdings Limited, the parent
of the Willis Group, today filed a registration
statement with the Securities and Exchange Commission
relating to the initial public offering of 20,000,000
shares of its common stock. The company has
also granted to the underwriters an option to
purchase up to 3,000,000 additional shares to
cover over-allotments.
All of the shares will be sold by the company,
which intends to use the proceeds to redeem
preference shares of TA II Limited, one of its
subsidiaries, or repurchase senior subordinated
notes of Willis North America, another of its
subsidiaries, or both. Salomon Smith Barney
is serving as bookrunning manager for the offering;
JPMorgan, Morgan Stanley & Co., Banc of
America Securities LLC, Merrill Lynch &
Co. and UBS Warburg will be the co-managers.
Copies of the preliminary prospectus related
to the offering, when available, may be obtained
from Salomon Smith Barney, Brooklyn Army Terminal,
140 58th Street, 5th Floor, Brooklyn, NY 11220
(telephone: 718-765-6732).
Willis Group Limited is the world's third largest
insurance broker. It provides specialized risk
management advisory and other services on a
global basis to clients in various industries,
including the construction, aerospace, marine
and energy industries.
A registration statement relating to these
securities has been filed with the Securities
and Exchange Commission but has not yet become
effective. These securities may not be sold
nor may offers to buy be accepted prior to the
time the registration statement becomes effective.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities
in any state in which such offer, solicitation
or sale would be unlawful prior to registration
or qualification under the securities laws of
any such state.
# # #
CONTACT:
Kerry K. Calaiaro
Willis Group Holdings Limited
212-837-0880
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