By Wendy Van Sickle
Columbus, Ohio, Sept. 8 – Pacific LifeCorp priced $750 million of 5.4% 30-year senior notes (A3/A-) on Thursday, according to a news release.
The company plans to use proceeds of the Regulation S and Rule 144A notes for general corporate purposes, including redemption or repayment of debt, including the 7.9% surplus notes due 2023.
Pacific LifeCorp is part of Newport Beach, Calif.-based insurance company Pacific Life Insurance Co.
| Issuer: | Pacific LifeCorp
|
| Amount: | $750 million
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| Issue: | Senior notes
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| Maturity: | 2052
|
| Coupon: | 5.4%
|
| Pricing date: | Sept. 8
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | Rule 144A and Regulation S
|
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