The Hartford, together with Hartford Life, Inc. announced the acceptance of notes and early settlement of its previous cash tender offers for senior debt in an aggregate principal amount of $800 million. Settlement occurred on March 26, 2013. The cash consideration for the tender offers totals approximately $1 billion, including the premium associated with the extinguishment of the debt for which the company expects to take a charge to net income of approximately $200 million, before tax, in the first quarter of 2013.

The Hartford Financial Services Group Inc. together with Hartford Life Inc. priced its cash tender offers. It announced the applicable reference yield, purchase yield, clearing spread, aggregate principal amount to be accepted and full tender offer consideration for its Dutch auction offers and its waterfall offer. Under the first tranche Dutch auction notes, the aggregate principal amount of 7.300% debentures due 2015 accepted for tender will be approximately $33.1 million. For the 6.300% senior notes due 2018, the amount to be accepted is approximately $179.9 million, and for the 6.000% senior notes due 2019, the amount is approximately $87.0 million. For the second tranche Dutch action notes, the aggregate principal amount to be accepted of 5.500% senior notes due 2016 is about $25.1 million. The amount of 5.375% senior notes due 2017 to be accepted is about $84.3 million, and the amount of 4.000% senior notes due 2017 to be accepted is $29.4 million. The Hartford will accept approximately $11.2 million aggregate principal amount of 4.000% senior notes due 2015. For the waterfall notes, the aggregate principal amount to be accepted of 7.650% debentures due 2027 is $69.2 million. For the 7.375% senior notes due 2031, The Hartford will accept approximately $29.0 million principal amount, and for the 6.625% senior notes due 2042, it will accept about $247.1 million. Lastly, it will accept about $4.7 million aggregate principal amount of the 6.625% senior notes due 2040, but will not accept any of the 5.950% senior notes due 2036 or the 6.100% senior notes due 2041. The Hartford expects to accept and settle the notes March 26. Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are dealer managers for the offers.

The Hartford Financial Services Group Inc., together with Hartford Life Inc., on March 21 disclosed the early tender results of its senior debt offerings. Under the first tranche Dutch auction notes, aggregate principal amounts of $40.7 million of 7.300% debentures due 2015, $213.6 million of 6.300% senior notes due 2018 and $134.4 million of 6.000% senior notes due 2019 were tendered. Under the second tranche Dutch auction notes, aggregate principal amounts of $79.7 million of 5.500% senior notes due 2016, $165.9 million of 5.375% senior notes due 2017, $189.8 million of 4.000% senior notes due 2017 and $139.1 million of 4.000% senior notes due 2015 were tendered. The aggregate principal amounts of senior notes and debentures that were tendered under the Waterfall notes were $69.2 million of 7.650% debentures due 2027, $29.0 million of 7.375% senior notes due 2031, $247.1 million of 6.625% senior notes due 2042, $162.2 million of 6.625% senior notes due 2040, $55.0 million of 5.950% senior notes due 2036 and $144.7 million of 6.100% senior notes due 2041. Hartford Life issued 7.650% the debentures due 2027 and 7.375% senior notes due 2031. Since each of the offers was oversubscribed as of early tender time, The Hartford and Hartford Life will accept notes in accordance with the acceptance priority and on a prorated basis and will not accept for purchase any notes tendered after the applicable early tender time. The expected settlement date of the accepted notes is March 26. Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as dealer managers for the offers.