From Earlier: Legg Mason Prices $650 Million Senior Notes

Legg Mason, Inc. LM announced yesterday the pricing of its sale of $650 million of 5.5% senior notes due 2019. The offering is expected to settle on May 21, 2012. The senior notes will bear interest at a rate of 5.5% per year. Interest for the senior notes will be payable semi-annually on May 21 and November 21, commencing on November 21, 2012. Legg Mason, Inc. plans to use the net proceeds from the senior notes offering, together with cash on hand and other borrowings, to repurchase $1.25 billion in aggregate principal amount of the Company's 2.5% contingent convertible senior notes due 2015.