The sale of stock and debt comes one week after it was announced.
The Hartford Financial Services Group Inc. sold 59.59 million shares of common stock for $27.75 per share, giving the company $1.65 billion before expenses. The property-casualty insurer, which employs 11,300 in Connecticut, also issued 23 million shares of preferred stock at $25 per share for $575 million. The preferred stock automatically converts to common stock after three years.
With 384 million shares outstanding before the issue, the dilution in shares was 21.5 percent, including the preferred shares.
The company also issued $1.1 billion in debt, including $300 million due 2015 with 4 percent interest to be paid, $500 million due 2020 at 5.5 percent interest and $300 million due 2040 at 6.625 percent.
In total, the company's debt and stock issued brought in $3.33 billion.
"There was a high level of investor interest in our offerings and pricing was favorable, reflecting confidence in The Hartford's future," said company chairman and CEO Liam McGee. "With the funds secured, we are moving forward with our plans to repurchase Treasury's preferred shares."