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Delphi Financial plans $250 million sale of 10-year notes Thursday
By Andrea Heisinger
New York, Jan. 13 - Delphi Financial Group, Inc. announced a $250 million offering of 10-year senior unsecured notes on Wednesday, according to a 424B5 filing with the Securities and Exchange Commission.
The notes (Baa3/BBB) are set to price on Thursday morning, a source close to the sale said late in the day. There is no formal price talk for the sale yet, he added.
Bank of America Merrill Lynch and Wells Fargo Securities are the bookrunners.
Proceeds will be used for general corporate purposes and debt repayment, including outstanding debt under a revolving credit facility.
The holding company for subsidiaries' employee benefit services is based in Wilmington, Del.
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