Willis North America Inc., a subsidiary of Willis Group Holdings Limited (WSH), today announced the final results of its cash tender offer to purchase any and all of its 5.125% senior notes due 2010.

The net proceeds from the offer came to $159,788,000. All of the 2010 notes that were tendered have been guaranteed for payment by Willis. The holders of the 2010 notes will be entitled to receive tender offer consideration of $1,027.50 per $1,000 principal amount of the 2010 notes, plus any accrued and unpaid interest.

The notes, which are guaranteed by Willis Group Holdings, carry ratings of Baa3 by Moody's and BBB- by S&P.

Bank of America (BAC) and JPMorgan Chase (JPM) were the joint book running managers for the sale.

Willis intends to use the net proceeds from this offering to purchase any and all of Willis North America's outstanding 5.125% senior notes due 2010 that

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Willis North America Inc., a subsidiary of Willis Group Holdings Limited (WSH)  has priced its $300 million worth of senior unsecured notes due 2019 at 7.0%. The notes which are guaranteed by Willis Group Holdings carry ratings of Baa3 of Moody’s and BBB- of S&P.  Bank of America (BAC) and JPMorgan Chase (JPM) were the joint book running managers for the sale. Willis intends to use the net proceeds from this offering to purchase any and all of Willis North America's outstanding 5.125% senior notes due 2010 that are tendered and accepted in a separate offering. Any remaining proceeds will then be used for general corporate purposes.  Willis Group Holdings’ second-quarter profit of 52 cents per share was just a penny ahead of Zacks Consensus Estimate. Results reflected growth in Global operations (7% organic growth) and International (5%), partly offset by a fall in ...

Willis Group Holdings’ (WSH) second-quarter profit of $0.52 per share was just a penny ahead of Zacks Consensus Estimate. However, we note that results include a pretax gain of $12 million from the U.S. pension plan curtailment. Although organic growth was slow, foreign currency translations had no impact on the company’s quarterly earnings.

Reported net income from continuing operations was $87 million or $0.52 per diluted share, compared with $39 million or $0.27 per diluted share, in the prior-year period.

Willis continues to drive three main programs of activity across the Group. These programs – Growth, Shaping Our Future, and Right-sizing Willis – combined with HRH integration synergies continue to deliver organic revenue growth. At the same time, these help achieve cost reduction and margin improvement in its underlying business performance.

Total quarterly sales were $784 million, up 19% from the year-ago period, reflecting the HRH acquisition. Organic

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