Hub International Says 2015 Note Holders Received $384M

Hub International Limited (“Hub”), a global insurance broker, today announced that holders of approximately $281 million aggregate principal amount (representing approximately 92%) of the 9.00% Senior Notes due 2014 (the “2014 Senior Notes”) and holders of approximately $363 million aggregate principal amount (representing approximately 92%) of the 10.25% Senior Subordinated Notes due 2015 (the “2015 Subordinated Notes”) validly tendered their Notes prior to the consent payment deadline of 5:00 p.m. on September 17, 2012 and that Hub had accepted such tendered Notes for payment in accordance with the Offer to Purchase and Consent Solicitation Statement, dated September 4, 2012. Those holders who validly tendered their 2014 Senior Notes received an aggregate of $295 million, consisting of the total consideration of $1,026.25 per $1,000 principal amount of the 2014 Senior Notes, which included a consent payment of $50.00 per $1,000 principal amount of the 2014 Senior Notes, plus any accrued and unpaid interest on the 2014 Senior Notes up to, but not including, the payment date. Those holders who validly tendered their 2015 Subordinated Notes received an aggregate of $384 million, consisting of the total consideration of $1,030.63 per $1,000 principal amount of the 2015 Subordinated Notes, which included a consent payment of $50.00 per $1,000 principal amount of the 2015 Subordinated Notes, plus any accrued and unpaid interest on the 2015 Subordinated Notes up to, but not including, the payment date.