CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Unum Group (NYSE: UNM) announced today that it has completed an offering
of senior notes. A total of $400 million aggregate principal amount of
10-year senior notes was issued today with an annual coupon rate of
5.625 percent. The net proceeds are expected to be used for the
repayment of the company’s senior notes due March 2011 and for other
general corporate purposes.
Morgan Stanley & Co. Incorporated, UBS Securities LLC, J.P. Morgan
Securities LLC and Wells Fargo Securities, LLC were joint book-running
managers.
A prospectus supplement, dated Sept. 8, 2010, and the accompanying base
prospectus, dated Nov. 12, 2008, relating to the senior notes may be
obtained by visiting Filings & Forms on the U.S. Securities and Exchange
Commission’s (SEC’s) website at www.sec.gov
or the “SEC Filings” page on the “Investors” section of the company
website at www.investors.unum.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer or sale of
the senior notes in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification
under the securities laws of any jurisdiction. Any offer, solicitation
or sale will be made only by means of the prospectus supplement and the
accompanying base prospectus.
ABOUT UNUM GROUP
Unum (www.unum.com)
is one of the leading providers of employee benefits products and
services and the largest provider of group and individual disability
income protection insurance in the United States and the United Kingdom.
SAFE HARBOR STATEMENT
Certain information in this press release constitutes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are those not based on
historical information, but rather relate to future operations,
strategies, financial results, or other developments and speak only as
of the date made. These forward-looking statements are subject to
numerous assumptions, risks, and uncertainties, many of which are beyond
our control. The following factors, in addition to other factors
mentioned from time to time, may cause actual results to differ
materially from those contemplated by the forward-looking statements:
(1) unfavorable economic or business conditions, both domestic and
foreign, including the continued financial market disruption; (2)
legislative, regulatory, or tax changes, both domestic and foreign,
including the effect of potential legislation and increased regulation
in the current political environment; (3) sustained periods of low
interest rates; (4) changes in claim incidence and recovery rates due
to, among other factors, the rate of unemployment and consumer
confidence, the emergence of new diseases, epidemics, or pandemics, new
trends and developments in medical treatments, and the effectiveness of
claims management operations; (5) fluctuation in insurance reserve
liabilities; (6) investment results, including but not limited to,
realized investment losses resulting from impairments that differ from
our assumptions and historical experience; (7) changes in interest
rates, credit spreads, and securities prices; (8) increased competition
from other insurers and financial services companies due to industry
consolidation or other factors; (9) changes in our financial strength
and credit ratings; (10) rating agency actions, state insurance
department market conduct examinations and other inquiries, other
governmental investigations and actions, and negative media attention;
(11) effectiveness in managing our operating risks and the
implementation of operational improvements and strategic growth
initiatives; (12) actual experience in pricing, underwriting, and
reserving that deviates from our assumptions; (13) lower than projected
persistency and lower sales growth; (14) changes in accounting
standards, practices, or policies; (15) effectiveness of our risk
management program; (16) the level and results of litigation; (17)
currency exchange rates; (18) ability of our subsidiaries to pay
dividends as a result of regulatory restrictions; (19) ability and
willingness of reinsurers to meet their obligations; (20) changes in
assumptions related to intangible assets such as deferred acquisition
costs, value of business acquired, and goodwill; (21) events or
consequences relating to terrorism and acts of war, both domestic and
foreign; and (22) ability to recover our systems and information in the
event of a disaster or unanticipated event.
For further information about risks and uncertainties which could cause
actual results to differ from those contained in the forward-looking
statements, see Part I, Item 1A of our annual report on Form 10-K for
the year ended December 31, 2009 and any subsequently filed Forms 10-Q.
The forward-looking statements in this press release are being made as
of the date of this press release, and the Company expressly disclaims
any obligation to update or revise any forward-looking statement
contained herein, even if made available on our website or otherwise.
Source: Unum Group
Contact:
Unum Group
Investors:
Tom White, 423-294-8996
Rob
Lockerman, 423-294-7498
or
Media:
Jim Sabourin,
423-294-6300 or 866-759-8686