Torchmark to redeem 7.1% trust originated preferreds via new offering

By Tali David

Minneapolis, Sept. 17 - Torchmark Corp. plans to redeem, in whole or in part, $120 million of its 7.1% trust originated preferred securities due 2046 with the proceeds of its debenture offering and cash on hand, according to a 424B5 filed with the Securities and Exchange Commission.

The preferreds were issued by Torchmark Capital Trust III, a subsidiary of the company.

Torchmark is an insurance holding company based in McKinney, Texas, that provides protection life insurance and supplemental health insurance.

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