Balance Sheet Management

The Hanover Insurance Group (THG) announced the pricing of a $500 million offering of 5.50% senior, unsecured notes maturing in 2035. Net proceeds will be used to retire higher-yielding debt, including the 7.625% Senior Notes due October 2025 and the 4.500% Senior Notes due April 2026, with the remainder for general corporate purposes. Goldman Sachs, J.P. Morgan, and Morgan Stanley are joint book-running managers. The offering, under an existing SEC shelf registration, aims to manage the balance sheet and potentially free up capital.