Health CareService Corp. a Mutual Legal Reserve Co. launched a tender offer topurchase for cash any and all of its outstanding $500 million of 4.70% notesdue Jan. 15, 2021.
Notes may be validly tendered at any time on or before 5p.m. ET on July 15, unless extended or earlier terminated. Thenotes validly tendered are expected to settle July 18. Any notes tendered underguaranteed delivery procedures are expected to settle July 20.
The offer is being made to reduce gross debt through theearly repayment of medium-term maturing bonds. The company will fund the offerwith existing cash resources.
J.P. Morgan Securities LLC is the dealer manager and D.F.King has been retained as the information agent and tender agent for the offer.