Unum Group has completed an offering of $300 million of 6.250% junior subordinated notes due in 2058.
Net proceeds are expected to be used to repay, redeem or repurchase the company's 7% senior notes due July 15, worth about $200 million. The balance of the net proceeds will be used for general corporate purposes.
Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities LLC and J.P. Morgan Securities LLC were the joint book-running managers.
