Item 8.01 Other Events.
On May 29, 2020, Aon Corporation, a Delaware corporation and a wholly owned
subsidiary of Aon plc ("Aon Corporation"), issued an irrevocable notice of
redemption to holders of its 5.000% Senior Notes, which mature on September 30,
2020 (the "Notes"), for the redemption of all $600 million outstanding aggregate
principal amount of the Notes.
The redemption date for the Notes will be June 30, 2020. The redemption price
for the Notes will be calculated in accordance with the indenture governing the
Notes and will equal the greater of (i) 100% of the principal amount of the
Notes and (ii) the sum of the present values of the remaining scheduled payments
of principal and interest on the Notes (exclusive of interest accrued to the
redemption date) discounted to the redemption date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months), at a rate equal to
the sum of the applicable Treasury Rate (as defined in the Notes), plus 40 basis
points, plus, in each case, accrued and unpaid interest thereon to but excluding
the redemption date.
No Notes will remain outstanding following the redemption. Aon Corporation
intends to fund the redemption with the net proceeds from the sale of its 2.800%
Senior Notes due 2030, which closed on May 15, 2020. The foregoing does not
constitute a notice of redemption with respect to the Notes.
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