Torchmark offering $300 million in senior notes, expects to pay debentures
By APFriday, June 26, 2009
Torchmark offering $300 million in senior notes
MCKINNEY, Texas — Insurance products company Torchmark Corp. said Thursday it is offering $300 million in senior notes and expects to use the proceeds to repay senior debentures and fund general corporate purposes.
The company is offering $300 million in 9.25 percent senior notes that will mature in 2019. The company expects the offering to close June 30.
The proceeds will be used to repay $99.45 million in aggregate principal amount of the company’s 8.25 percent senior debentures that mature Aug. 15, and for general corporate purposes.
Wachovia Capital Markets LLC and SunTrust Robinson Humphrey Inc. are acting as joint book-running managers for the offering.
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