By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, June 9 – Unum Group priced $600 million of 4.125% 30-year senior notes (Baa3/BBB/BBB-) on Wednesday at 99.014 to yield 4.183%, or a spread of 200 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.
The issue size had been talked at $400 million.
The notes were talked to price with a spread in the 230 bps over Treasuries area.
BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. were the bookrunners.
Proceeds will be used to redeem, in whole or in part, $500 million of the company’s 4.5% senior notes due 2025.
Unum is an employee benefits provider based in Chattanooga, Tenn.
| Issuer: | Unum Group
|
| Amount: | $600 million
|
| Description: | Senior notes
|
| Maturity: | June 15, 2051
|
| Bookrunners: | BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc.
|
| Co-managers: | BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., Fifth Third Securities, Inc., Regions Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Coupon: | 4.125%
|
| Price: | 99.014
|
| Yield: | 4.183%
|
| Spread: | Treasuries plus 200 bps
|
| Call features: | Make-whole call before Dec. 15, 2050 at Treasuries plus 30 bps; thereafter at par
|
| Trade date: | June 9
|
| Settlement date: | June 14
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 230 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
