SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - July 10, 1997
HSB GROUP, INC.
(Exact name of registrant as specified in its charter)
Connecticut 06-1475343
(State or other (Commission (IRS
jurisdiction of File Number) Identification No.)
incorporation)
One State Street, Hartford, Connecticut 06102-5024
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code - (860-722-1866)
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Item 5. Other Events
On July 10, 1997, HSB Group Inc. (the Company) issued a press release announcing
the sale of $110 million of 30-year Floating Rate Capital Securities issued by
HSB Capital I, a Delaware statutory business trust created by HSB Group, Inc.
Included herewith as Exhibit 99 is the Company's press release related to this
announcement and such information is incorporated herein by reference.
Item 7. Exhibits.
99. The Company's press release dated July 10, 1997.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
HSB GROUP, INC.
Dated: July 10, 1997 /s/ R. Kevin Price
R. Kevin Price
Senior Vice President and Corporate
Secretary
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FOR IMMEDIATE RELEASE CONTACT:
James C. Rowan, Jr.
Office: 860-722-5180
HSB GROUP, INC.
ANNOUNCES SALE OF $110M CAPITAL SECURITIES
HARTFORD, CT, July 10, 1997 -- HSB Group, Inc. (NYSE-HSB) announced today the
sale of $110 million of 30-year Floating Rate Capital Securities issued by HSB
Capital I, a Delaware statutory business trust created by HSB Group, Inc.
The securities were sold in a private placement under Rule 144A to qualified
institutional investors and have not been registered under the Securities Act of
1933, as amended. The Capital Securities may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state laws.
The company said it expects to use the net proceeds from the sale for general
corporate purposes, which may include repurchases of the company's common stock,
funding investments in, or extensions of credit to, the company's subsidiaries,
repayment of maturing obligations, and financing possible future acquisitions.
Pending such use, the company may temporarily invest the proceeds or may use
them to reduce short-term indebtedness.
HSB Group, Inc. is the parent of The Hartford Steam Boiler Inspection and
Insurance Company, which has specialized in loss prevention and loss control
engineering since 1866 and today is the largest provider of equipment breakdown
insurance in the world.
