CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Unum Group (NYSE: UNM) announced today that it has completed an offering
of senior notes. A total of $275 million aggregate principal amount of
10-year senior notes was issued today with an annual coupon rate of
3.875 percent. The net proceeds are expected to be used for general
corporate purposes, which may include repayment of short-term debt.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global
Markets Inc. and UBS Securities LLC were joint book-running managers.
A prospectus supplement, dated Nov. 2, 2015, and the accompanying base
prospectus, dated June 24, 2015, relating to the senior notes may be
obtained by searching the company’s filings on the U.S. Securities and
Exchange Commission’s website at www.sec.gov
or by visiting the “SEC Filings” page on the Investors section of the
company’s 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
Group is a leading provider of financial protection benefits in the
United States and the United Kingdom. Its primary businesses are Unum
US, Colonial Life and Unum UK. Unum’s portfolio includes disability,
life, accident and critical illness coverage, which help protect
millions of working people and their families in the event of an illness
or injury. The company reported revenues of $10.5 billion in 2014, and
provided more than $6.7 billion in benefits.
For more information, visit us at www.unum.com
or connect with us at www.facebook.com/unumbenefits,
www.twitter.com/unumnews
and www.linkedin.com/company/unum.
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 our outlook, future
operations, strategies, financial results, or other developments and
speak only as of the date made. These forward-looking statements,
including statements about the possible use of proceeds, 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) sustained periods of low interest rates; (2) fluctuation in
insurance reserve liabilities and claim payments due to changes in claim
incidence, recovery rates, mortality and morbidity rates, and policy
benefit offsets 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, the
effectiveness of claims operational processes, and changes in government
programs; (3) unfavorable economic or business conditions, both domestic
and foreign; (4) legislative, regulatory, or tax changes, both domestic
and foreign, including the effect of potential legislation and increased
regulation in the current political environment; (5) investment results,
including, but not limited to, changes in interest rates, defaults,
changes in credit spreads, impairments, and the lack of appropriate
investments in the market which can be acquired to match our
liabilities; (6) the failure of cyber or other information security
systems, as well as the occurrence of events unanticipated in our
disaster recovery systems; (7) increased competition from other insurers
and financial services companies due to industry consolidation, new
entrants to our markets, or other factors; (8) changes in our financial
strength and credit ratings; (9) damage to our reputation due to, among
other factors, regulatory investigations, legal proceedings, external
events, and/or inadequate or failed internal controls and procedures;
(10) actual experience that deviates from our assumptions used in
pricing, underwriting, and reserving; (11) actual persistency and/or
sales growth that is higher or lower than projected; (12) changes in
demand for our products due to, among other factors, changes in societal
attitudes, the rate of unemployment, consumer confidence, and/or
legislative and regulatory changes, including healthcare reform; (13)
effectiveness of our risk management program; (14) contingencies and the
level and results of litigation; (15) availability of reinsurance in the
market and the ability of our reinsurers to meet their obligations to
us; (16) ineffectiveness of our derivatives hedging programs due to
changes in the economic environment, counterparty risk, ratings
downgrades, capital market volatility, changes in interest rates, and/or
regulation; (17) changes in accounting standards, practices, or
policies; (18) fluctuation in foreign currency exchange rates; (19)
ability to generate sufficient internal liquidity and/or obtain external
financing; (20) recoverability and/or realization of the carrying value
of our intangible assets, long-lived assets, and deferred tax assets;
and (21) terrorism, both within the U.S. and abroad, ongoing military
actions, and heightened security measures in response to these types of
threats.
For further discussion of 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, 2014 and, to the extent applicable, our
subsequent quarterly reports on Form 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151105006436/en/
Unum Group
Investors:
Tom White, 423-294-8996
Matt
Barnett, 423-294-7498
or
Media:
Jim Sabourin, 423-294-6043
Source: Unum Group