By Andrea Heisinger
New York, Sept. 8 - Unum Group priced an upsized $400 million offering of 5.625% 10-year senior unsecured notes late on Wednesday to yield 300 basis points over Treasuries, a market source away from the deal said.
The issue was increased from $300 million.
The notes (Baa3/BBB-/BBB) priced at 99.879 to yield 5.641%. They are callable at a make-whole amount of Treasuries plus 45 bps.
Morgan Stanley & Co. Inc. and UBS Investment Bank ran the books. J.P. Morgan Securities Inc. and Wells Fargo Securities LLC were passive bookrunners.
Senior co-manager was SunTrust Robinson Humphrey Inc., and co-managers were Barclays Capital Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
Proceeds are being used to repay senior notes due March 2011 and for other general corporate purposes.
The employee benefits provider is based in Chattanooga, Tenn.
| Issuer: | Unum Group
|
| Issue: | Senior unsecured notes
|
| Amount: | $400 million, increased from $300 million
|
| Maturity: | Sept. 15, 2020
|
| Bookrunners: | Morgan Stanley & Co. Inc., UBS Investment Bank (active), J.P. Morgan Securities Inc., Wells Fargo Securities LLC (passive)
|
| Senior co-manager: | SunTrust Robinson Humphrey Inc.
|
| Co-managers: | Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Coupon: | 5.625%
|
| Price: | 99.879
|
| Yield: | 5.641%
|
| Spread: | Treasuries plus 300 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 15
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
© 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.
