Protective Life to price $150 million 10-year senior notes

By Andrea Heisinger

Omaha, Dec. 3 - Protective Life Corp. announced Monday it will price $150 million of 10-year senior notes, according to a Securities and Exchange Commission filing.

The notes will mature Jan. 15, 2018.

Bookrunners are Merrill Lynch and Lehman Brothers.

Proceeds will be used to repay outstanding bank debt or for general corporate purposes, including infusion of capital into the company's subsidiaries.

Protective Life is a holding company for its subsidiaries, which provide insurance and investment products, and is based in Birmingham, Ala.

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