By Aleesia Forni
Virginia Beach, March 11 - Unum Group priced an upsized $350 million of 4% senior notes (Baa2/BBB/) due 2024 on Tuesday with a spread of Treasuries plus 125 basis points, according to an informed source.
Pricing was at 99.853 to yield 4.018%.
The notes priced at the tight end of talk.
Proceeds from the sale will be used for general corporate purposes, which may include refinancing future bond maturities.
The joint bookrunners were J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC.
The employee benefits provider is based in Chattanooga, Tenn.
| Issuer: | Unum Group
|
| Amount: | $350 million, upsized from $300 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2024
|
| Bookrunners: | J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC.
|
| Coupon: | 4%
|
| Price: | 99.853
|
| Yield: | 4.018%
|
| Spread: | Treasuries plus 125 bps
|
| Trade date: | March 11
|
| Settlement date: | March 14
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Price talk: | Treasuries plus 125 bps to 130 bps
|
| Distribution: | SEC-registered
|
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