Kemper Corporation (NYSE: KMPR) announced that it has priced a
registered offering of $150 million of 7.375% subordinated debentures
due 2054. Kemper intends to use the net proceeds from this offering for
working capital and other general corporate purposes, which may include
retirement of a portion of its existing debt on or before its scheduled
maturity date.
Kemper anticipates that the offering will close on or around February
27, 2014, subject to customary closing conditions. Kemper intends to
apply for listing of the subordinated debentures on the New York Stock
Exchange. If the application is approved, Kemper expects trading in the
subordinated debentures to begin within 30 days of issuance.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as
joint book-running managers for the transaction.
The offering is being made pursuant to an effective shelf registration
statement previously filed by Kemper with the Securities and Exchange
Commission (the “SEC”) and only by means of a prospectus supplement and
accompanying prospectus, copies of which may be obtained from J.P.
Morgan Securities LLC at Attention: Investment Grade Syndicate Desk, 383
Madison Avenue, New York 10179 or by calling (collect) 212-834-4533; and
Wells Fargo Securities, LLC at Attention: Capital Markets Client
Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262 or by
calling 800-326-5897 or emailing cmclientsupport@wellsfargo.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor does it constitute
an offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About Kemper
Kemper is a diversified insurance holding company with subsidiaries that
provide an array of products to the individual and small business
markets:
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Auto insurance
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Homeowners insurance
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Renters insurance
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Life insurance
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Health insurance
Kemper markets to its customers through a network of independent agents,
brokers and career agents.
Copyright Business Wire 2014