Lincoln National Corp. is offering $500 million aggregate principal amount of its 3.05% notes due Jan. 15, 2030.
Interest will be paid every Jan. 15 and July 15, starting Jan. 15, 2020.
The company expects proceeds, before expenses, of $496.23 million, which it may use to purchase the notes accepted for payment in its tender offer that started Aug. 12 and to repay or redeem its 6.250% senior notes due 2020, $300 million of which is outstanding.
The remaining proceeds from the offering will be used for general corporate purposes.
J.P. Morgan, Wells Fargo Securities, BNP Paribas, HSBC and Bank of America Merrill Lynch are the joint book-running managers for the offering.
