Assurant to sell $350 million senior notes due 2032; price talk Treasuries plus 155 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., June 10 – Assurant Inc. intends to price $350 million of fixed-rate senior notes due Jan. 15, 2032, according to a market source.

Price talk is in the Treasuries plus 155 basis points area.

The notes feature a make-whole call and then a par call, according to 424B5 filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used, with cash on hand, to redeem all or a portion of the company’s $350 million 4% senior notes due 2023.

Assurant is a New York-based provider of risk management products and services.

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