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| CNA > SEC Filings for CNA > Form 8-K on 13-Nov-2009 | All Recent SEC Filings |
13-Nov-2009
Entry into a Material Definitive Agreement
On November 9, 2009, the Registrant entered into an underwriting agreement
("Underwriting Agreement") with Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. and Wells Fargo Securities, LLC relating to the offer and sale
of $350 million aggregate principal amount of the Registrant's 7.35% senior
notes due November 15, 2019 ("Notes"). The Notes are being offered and sold
pursuant to the Registrant's shelf registration statement on Form S-3 (File
No. 333-140870) and prospectus supplement, filed November 10, 2009.
On November 10, 2009, the Registrant entered into a 2008 Senior Preferred Stock
Redemption Agreement ("Redemption Agreement") with Loews Corporation, the owner
of approximately 90% of the Registrant's common stock. Pursuant to the
Redemption Agreement, immediately following the issuance and sale of the Notes,
the Registrant shall use a portion of the net proceeds to redeem $250 million of
its 2008 Senior Preferred Stock held by Loews Corporation, leaving $1 billion of
the 2008 Senior Preferred Stock outstanding.
The Registrant intends to use the balance of the net proceeds from the issuance
and sale of the Notes for general corporate purposes.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit No. Description
10.1 Underwriting Agreement, dated November 9, 2009, among CNA Financial
Corporation and Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. and Wells Fargo Securities, LLC
10.2 2008 Senior Preferred Stock Redemption Agreement, dated
November 10, 2009, by and between CNA Financial Corporation and
Loews Corporation
10.3 Form of 7.35% Note due November 15, 2019
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