Filed Pursuant to Rule 424(b)(5)
Registration Statement Nos. 333-238189, 333-238189-01,
333-238189-02 and 333-238189-03
Prospectus Supplement
(To Prospectus dated May 12, 2020)
Aon Corporation
Aon Global Holdings plc
$600,000,000 2.850% Senior Notes due 2027
$900,000,000 3.900% Senior Notes due 2052
with full and unconditional guarantees
as to payment of principal and interest by
Aon plc and Aon Global Limited
Aon Corporation,
a Delaware corporation, and Aon Global Holdings plc, a public limited company incorporated under the laws of England and Wales (AGH) (each, an Issuer and, together, the Issuers) are offering $600,000,000 aggregate
principal amount of 2.850% senior notes due 2027 (the 2027 Notes) and $900,000,000 aggregate principal amount of 3.900% senior notes due 2052 (the 2052 Notes and, together with the 2027 Notes, the Notes). The 2027
Notes will mature on May 28, 2027. The 2052 Notes will mature on February 28, 2052. Interest on the 2027 Notes will be payable on each May 28 and November 28, commencing on November 28, 2022. The Notes will be issued in minimum denominations of
$2,000 and integral multiples of $1,000 in excess thereof.
The Issuers may redeem the Notes of either series in whole or in part, at any
time and from time to time at the redemption prices for the applicable series set forth in this prospectus supplement under Description of the SecuritiesOptional Redemption.
The Issuers may also redeem all of the Notes of a series at a redemption price equal to 100% of the principal amount of the Notes of such series
plus accrued and unpaid interest, if any, to the redemption date in the event of certain changes in respect of withholding taxes applicable to the Guarantees, as described in this prospectus supplement under Description of the
SecuritiesOptional Tax Redemption.
The Notes will be fully and unconditionally guaranteed, jointly and severally (the
Guarantees and, together with the Notes, the Securities), by Aon plc, an Irish public limited company (Aon plc), and Aon Global Limited (formerly known as Aon plc), a private limited company incorporated under the
laws of England and Wales (AGL and, together with Aon plc, the Guarantors). Each of AGL, Aon Corporation and AGH is an indirect wholly owned subsidiary of Aon plc, and AGH is the direct parent of Aon Corporation.
The Notes will be the applicable Issuers general unsecured and unsubordinated obligation and will rank equally in right of payment with
each other and with all of such Issuers other existing and future unsecured and unsubordinated indebtedness. The Notes will not have the benefit of all of the covenants applicable to certain of the Issuers existing unsecured senior
indebtedness. The Notes will be effectively subordinated to all of the applicable Issuers existing and future secured indebtedness to the extent of the value of the assets securing any such indebtedness. The Notes will be structurally
subordinated to all of the existing and future secured and unsecured indebtedness and other liabilities of the applicable Issuers subsidiaries.
Each Guarantee will be the applicable Guarantors general unsecured and unsubordinated obligation and will rank equally in right of payment
with all of such Guarantors other existing and future unsecured and unsubordinated indebtedness. The Guarantees will not have the benefit of all of the covenants applicable to certain of the Guarantors existing unsecured senior debt.
Each Guarantee will be effectively subordinated to all of the applicable Guarantors existing and future secured indebtedness to the extent of the value of the assets securing any such indebtedness. Each Guarantee will be structurally
subordinated to all of the existing and future secured and unsecured indebtedness and other liabilities of the applicable Guarantors subsidiaries.
Investing in
the Securities involves a high degree of risk. See Risk Factors beginning on page S-12, as well as the risks set forth in our other filings with the
Securities and Exchange Commission (the SEC), which are incorporated by reference in this prospectus supplement and the accompanying prospectus for a discussion of certain risks that should be considered in connection with an investment
in the Notes.
Neither the SEC nor any state securities commission has approved or disapproved of the Securities or passed upon the
adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.
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Per 2027 Note |
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Total |
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Per 2052 Note |
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Total |
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Public offering price |
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99.944 |
% |
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$ |
599,664,000 |
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98.486 |
% |
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$ |
886,374,000 |
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Underwriting discount |
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0.475 |
% |
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$ |
2,850,000 |
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0.875 |
% |
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$ |
7,875,000 |
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Proceeds to us (before expenses) |
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99.469 |
% |
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$ |
596,814,000 |
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97.611 |
% |
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$ |
878,499,000 |
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Interest on the Notes of each series will accrue from February 28, 2022.
We intend to apply to list the Notes on the New York Stock Exchange.
The underwriters expect to deliver the Securities for purchase on or about February 28, 2022, which is the third business day following the date
of this prospectus supplement, in book-entry form through the facilities of The Depository Trust Company and its participants, including Clearstream Banking, S.A. and Euroclear Bank SA/NV.
Joint Book-Running Managers
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Morgan Stanley |
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Barclays |
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Credit Suisse |
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Deutsche Bank Securities |
Co-Managers
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ANZ Securities |
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Aon Securities LLC |
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BNY Mellon Capital Markets, LLC |
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nabSecurities, LLC |
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Scotiabank |
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UniCredit Capital Markets |
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US Bancorp |
The date of this prospectus supplement is February 23, 2022.