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Kemper to offer common shares

Kemper Corp. has agreed to sell 1,350,000 of its common shares in an underwritten public offering.

The sole underwriter, Credit Suisse, has been granted a 30-day option to buy up to 202,500 additional common shares.

Based on a June 4 closing share price of $85.10 and assuming full exercise of the underwriter's option, S&P Global Market Intelligence calculates a gross offering size of about $132.1 million.

Kemper plans to use the net proceeds, along with other funds, to redeem all $150.0 million of its 7.375% subordinated debentures due 2054.