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Unum Group Announces the Early Tender Results of its Cash Tender Offer for Certain Outstanding Debt Securities

Nachrichtenquelle: Business Wire (engl.)
18.09.2019, 02:27  |  304   |   |   

Unum Group (NYSE: UNM) (the “Company”) today announced that, pursuant to its previously announced tender offer (the “Offer”) to purchase for cash up to the aggregate liquidation amount of the 7.405% Capital Securities due March 15, 2038 (the “Capital Securities”), issued by Provident Financing Trust I, a wholly-owned subsidiary of the Company, the aggregate principal amount of the Company’s 7.19% Senior Notes due February 1, 2028 (the “7.19% Notes”), the aggregate principal amount of the Company’s 7.25% Senior Notes due March 15, 2028 (the “7.25% Notes”), the aggregate principal amount of the Company’s 6.75% Senior Notes due December 15, 2028 (the “6.75% Notes”), and the aggregate principal amount of the Company’s 3.00% Senior Notes due May 15, 2021 (the “3.00% Notes”, and together with the 7.19% Notes, the 7.25% Notes and the 6.75% Notes, the “Notes” and the Notes, together with the Capital Securities, collectively, the “Securities”, and each a “series” of Securities) that the Company can purchase for a combined aggregate purchase price of up to $450 million (excluding accrued and unpaid distributions and interest up to, but not including, the applicable settlement date and excluding fees and expenses related to the Offer) (the “Maximum Tender Amount”) and, in the case of the Capital Securities, the 7.19% Notes, the 7.25% Notes and the 6.75% Notes (collectively, the “Capped Securities”), subject to a combined aggregate purchase price not to exceed $100 million (the “Capped Securities Purchase Limit”), approximately $510.6 million in aggregate liquidation or principal amount of Securities were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on September 17, 2019 (the “Early Tender Deadline”). The terms and conditions of the Offer are described in the Offer to Purchase, dated September 4, 2019 (as amended, the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”).

The following table sets forth certain information regarding the Securities and the Offer, including the aggregate principal amount of each series of Securities that was validly tendered and not validly withdrawn at or prior to the Early Tender Deadline:

Title of
Security

CUSIP
Number

Principal
Amount
Outstanding

Capped Securities Purchase Limit(1)

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