Willis Group Holdings plc (NYSE: WSH) today announced that it has commenced a registered offering of senior unsecured notes. Payment of principal and interest on the notes will be fully and unconditionally guaranteed by Willis North America Inc. and all the intermediate holding companies between Willis Group Holdings plc and WNA.

The Company intends to use the net proceeds of the offering to repurchase or redeem any and all of the $500 million in aggregate principal amount of 12.875% senior notes due 2016, and for general corporate purposes.