CNA Financial Completes $350 Million Offering of Senior Notes

CHICAGO--(BUSINESS WIRE)--CNA Financial Corporation (NYSE: CNA) today announced the completion of the public offering of $350 million aggregate principal amount of 7.35% ten-year senior notes. CNA used a portion of the net proceeds to redeem $250 million of its 2008 Senior Preferred Stock held by Loews Corporation, the owner of 90% of CNA’s common stock, leaving $1 billion of the 2008 Senior Preferred Stock outstanding. CNA intends to use the remaining net proceeds for general corporate purposes.

Serving businesses and professionals since 1897, CNA is the country’s seventh largest commercial insurer and the 13^th largest property and casualty company. CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered trademark of CNA Financial Corporation.

FORWARD-LOOKING STATEMENT

This press release includes statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as “believes”, “expects”, “intends”, “anticipates”, “estimates”, and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by CNA. For a detailed description of these risks and uncertainties please refer to CNA’s filings with the Securities and Exchange Commission, available at www.cna.com.

Any forward-looking statements made in this press release are made by CNA as of the date of this press release. Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA’s expectations or any related events, conditions or circumstances change.

CNA Financial Corporation
MEDIA:
Katrina W. Parker, 312/822-5167
Sarah J. Pang, 312/822-6394
or
ANALYSTS:
Nancy M. Bufalino, 312/822-7757
Marie Hotza, 312/822-4278
David C. Adams, 312/822-2183