Massachusetts Mutual Life Insurance Co. completed its announced private exchange offer for all of its outstanding 5.625% surplus notes due 2033, 8.875% surplus notes due 2039, 5.375% surplus notes due 2041 and 4.500% surplus notes due 2065.
The outstanding notes are being exchanged for consideration consisting of MassMutual's 3.729% surplus notes due 2070 and cash equivalent to the exchange consideration, if applicable.
At 5 p.m. ET on Oct. 8, $56.8 million aggregate principal amount of the 2033 surplus notes, $180.4 million aggregate principal amount of the 2039 surplus notes, $136.3 million aggregate principal amount of the 2041 surplus notes and $241.8 million aggregate principal amount of the 2065 surplus notes, were validly tendered and not withdrawn.
The company expects to accept all of the tendered surplus notes that were validly tendered and not withdrawn on Oct. 11.
D.F. King & Co. Inc. was the information and exchange agent for the exchange offers.
