Unum Group raised the aggregate liquidation or principal amount of its 7.405% capital securities due March 15, 2038, and the aggregate principal amounts of its 7.19% senior notes due Feb. 1, 2028; 7.25% senior notes due March 15, 2028; and 6.75% senior notes due Dec. 15, 2028, that it can purchase under its cash tender offer.
The company can now purchase the capital securities and senior notes for a combined aggregate purchase price of up to $450 million, compared with the combined aggregate purchase price of up to $300 million announced earlier.
The increased combined aggregate purchase price is subject to the capped securities purchase limit set forth in the offer to purchase dated Sept. 4. The capital securities were issued by Unum's wholly owned subsidiary Provident Financing Trust I.
The combined aggregate purchase price for which Unum can purchase the 3.00% senior notes due May 15, 2021, remains unchanged at approximately $300 million, excluding accrued and unpaid distributions and interest until, but not including, the applicable settlement date and excluding fees and expenses related to the tender offer.
HSBC Securities (USA) Inc., Bank of America Merrill Lynch, Goldman Sachs & Co. LLC and Wells Fargo Securities LLC are serving as the joint dealer managers for the offer. The information agent and tender agent for the offer is D.F. King & Co. Inc.
