CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Unum Group (NYSE: UNM) announced today that it has completed an offering
of senior notes. A total of $600 million aggregate principal amount of
senior notes was issued today in two tranches: (i) $350 million
aggregate principal amount of senior notes due in 2021 with an annual
coupon rate of 3.00 percent, and (ii) $250 million aggregate principal
amount of senior notes due in 2042 with an annual coupon rate of 5.75
percent, pursuant to a reopening of the $250 million aggregate principal
amount outstanding of the company’s 5.75% senior notes due 2042 issued
on Aug. 23, 2012. The net proceeds of the offering are expected to be
used for general corporate purposes, including the repayment at maturity
of the company’s outstanding 7.125% senior notes due September 2016.
J.P. Morgan Securities LLC and Barclays Capital Inc. were joint
book-running managers.
A prospectus supplement, dated May 4, 2016, 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 $10.7 billion in 2015, and
provided $6.8 billion in benefits last year.
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 our 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) a cyber attack or other security breach could result in
the unauthorized disclosure of confidential data; (7) the failure of our
business recovery and incident management processes to resume our
business operations in the event of a natural catastrophe, cyber attack,
or other event; (8) increased competition from other insurers and
financial services companies due to industry consolidation, new entrants
to our markets, or other factors; (9) execution risk related to our
technology needs; (10) changes in our financial strength and credit
ratings; (11) damage to our reputation due to, among other factors,
regulatory investigations, legal proceedings, external events, and/or
inadequate or failed internal controls and procedures; (12) actual
experience that deviates from our assumptions used in pricing,
underwriting, and reserving; (13) actual persistency and/or sales growth
that is higher or lower than projected; (14) 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; (15) effectiveness of
our risk management program; (16) contingencies and the level and
results of litigation; (17) availability of reinsurance in the market
and the ability of our reinsurers to meet their obligations to us;
(18) 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;
(19) changes in accounting standards, practices, or policies; (20)
fluctuation in foreign currency exchange rates; (21) ability to generate
sufficient internal liquidity and/or obtain external financing; (22)
recoverability and/or realization of the carrying value of our
intangible assets, long-lived assets, and deferred tax assets; and (23)
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 1, Item 1A. “Risk Factors” of our annual report on
Form 10-K for the year ended December 31, 2015, 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/20160509006395/en/
Unum Group
Investors:
Tom White, 423-294-8996
Matt
Barnett, 423-294-7498
or
Media:
Jim Sabourin, 423-294-6043
Source: Unum Group