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CNA > SEC Filings for CNA > Form 8-K on 13-Nov-2009All Recent SEC Filings

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Form 8-K for CNA FINANCIAL CORP


13-Nov-2009

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

On November 9, 2009, the Registrant entered into an underwriting agreement ("Underwriting Agreement") with Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Wells Fargo Securities, LLC relating to the offer and sale of $350 million aggregate principal amount of the Registrant's 7.35% senior notes due November 15, 2019 ("Notes"). The Notes are being offered and sold pursuant to the Registrant's shelf registration statement on Form S-3 (File No. 333-140870) and prospectus supplement, filed November 10, 2009. On November 10, 2009, the Registrant entered into a 2008 Senior Preferred Stock Redemption Agreement ("Redemption Agreement") with Loews Corporation, the owner of approximately 90% of the Registrant's common stock. Pursuant to the Redemption Agreement, immediately following the issuance and sale of the Notes, the Registrant shall use a portion of the net proceeds to redeem $250 million of its 2008 Senior Preferred Stock held by Loews Corporation, leaving $1 billion of the 2008 Senior Preferred Stock outstanding.
The Registrant intends to use the balance of the net proceeds from the issuance and sale of the Notes for general corporate purposes. Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

 Exhibit No.     Description
       10.1      Underwriting Agreement, dated November 9, 2009, among CNA Financial
                 Corporation and Citigroup Global Markets Inc., J.P. Morgan
                 Securities Inc. and Wells Fargo Securities, LLC
       10.2      2008 Senior Preferred Stock Redemption Agreement, dated
                 November 10, 2009, by and between CNA Financial Corporation and
                 Loews Corporation
       10.3      Form of 7.35% Note due November 15, 2019


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