Hartford to Raise $1.85B in Equity and Debt

The Hartford Financial Services Group, Inc. (NYSE: HIG) yesterday announced plans to raise approximately $1.85 billion in capital, consisting of $1 billion of common stock, $600 million of equity units comprised of common stock purchase contracts and debt securities and $250 million of debt securities. These offerings are taken from an existing shelf registration. As part of the transactions, The Hartford will offer approximately 21.8 million shares of its common stock and 12 million equity units each with a stated amount of $50 per equity unit. The Hartford has granted the under...