Hartford Sells $320M in 10 Year Senior Notes

The Hartford Financial Services Group, Inc. (NYSE: HIG) yesterday announced that it has sold $320 million aggregate principal amount of its 4.625 percent senior notes due July 15, 2013, in an offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The Hartford intends to use the net proceeds from the offering, plus available cash, to redeem the remaining $320 million of its outstanding 7.70 percent trust preferred securities on September 30, 2003.Related Stories:S&P rates the notes 'A-'.Moody's gives the notes an 'A3'.A.M. Best gives the notes an 'A-'.Source...