Hanover Insurance Group prices $200 million senior unsecured notes offering

Hanover Insurance prices $200M notes offering

WORCESTER, Mass. — The Hanover Insurance Group Inc., one of the nation’s biggest property and casualty insurers, has priced a $200 million senior unsecured notes offering.

The company said late Thursday that the 7.5 percent notes are due March 1, 2020.

Hanover expects to use the offering’s net proceeds for general corporate and working capital purposes, such as stock buybacks, potential acquisitions and capital expenditures.

The holdings of Hanover Insurance Group, based in Worcester, Mass., include The Hanover Insurance Co., also based in Worcester, and Citizens Insurance Co. of America, based in Howell, Mich., as well their affiliates.