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Torchmark prices debenture offering


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Torchmark prices debenture offering

TorchmarkCorp. said March 30 that it priced an of $300 million in aggregateprincipal amount of its 6.125% junior subordinated debentures due 2056.  

The offering is expected to close April 5, subject to thesatisfaction of customary closing conditions.

The debentures are redeemable, in whole or in part, at aredemption price equal to their principal amount on or after June 15, 2021, orearlier under certain circumstances.

The net proceeds of the offering are expected to be used toredeem all of the $250 million of 6.375% senior notes due 2016, and for generalcorporate purposes.