Aon Plc has kicked off a jumbo US investment-grade debt offering to help fund its planned $17 billion acquisition of USI Insurance Services from private equity firm KKR & Co.. The company is expected to sell $13.5 billion of notes as part of the funding package, which may also include a $4 billion term loan, according to a S&P Global Ratings note. The seven-tranche offering has bonds ranging in maturities from three to 30 years, according to a person familiar with the matter, matching details in Friday’s preliminary prospectus. Initial price discussions for the longest tenor are for a premium of about 1.5 percentage points above Treasuries, said the person, who asked not to be identified because they’re not authorized to speak publicly. Bank of America Corp., Citigroup Inc., HSBC Holdings Plc, Morgan Stanley and Wells Fargo & Co. are managing the note sale, the person added.如果USI收购失败或未能在2027年12月1日前完成，除30年期债券外，所有债券都必须以每美元101美分的价格赎回，外加应计未付利息。

上个月，怡安同意从KKR及其他股东手中收购USI，交易为全现金形式，并通过债务融资。此次收购旨在扩大公司在中型企业客户中的业务版图。怡安是全球最大的保险经纪公司之一，而USI则为企业和个人提供保险经纪及咨询服务。

这笔巨额发行正值美国投资级市场一年中最繁忙的时期之一。根据对交易商的非正式调查，预计企业本周将发行约550亿美元的高评级债券。上周676亿美元的供应量位列今年第四高。