Unum Group (NYSE: UNM) announced today that it has completed an offering
of senior notes. A total of $350 million aggregate principal amount of
10-year senior notes was issued today with an annual coupon rate of
4.000 percent. The net proceeds are expected to be used for general
corporate purposes, which may include refinancing future bond maturities.
J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells
Fargo Securities LLC were joint book-running managers.
A prospectus supplement, dated March 11, 2014, and the accompanying base
prospectus, dated Nov. 10, 2011, 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. 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 $10.35 billion in
2013 and provided more than $6 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) unfavorable economic or business conditions, both domestic and
foreign; (2) sustained periods of low interest rates; (3) fluctuations
in insurance reserve liabilities and claim payments due to changes in
claim incidence, recovery rates, mortality rates, and 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; (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)
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; (8)
increased competition from other insurers and financial services
companies due to industry consolidation, new entrants to our markets, or
other factors; (9) changes in our financial strength and credit ratings;
(10) damage to our reputation due to, among other factors, regulatory
investigations, legal proceedings, external events, and/or inadequate or
failed internal controls and procedures; (11) actual experience that
deviates from our assumptions used in pricing, underwriting, and
reserving; (12) actual persistency and/or sales growth that is higher or
lower than projected; (13) 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; (14) effectiveness of our risk
management program; (15) contingencies and the level and results of
litigation; (16) changes in accounting standards, practices, or
policies; (17) fluctuation in foreign currency exchange rates; (18)
ability to generate sufficient internal liquidity and/or obtain external
financing; (19) availability of reinsurance in the market and the
ability of our reinsurers to meet their obligations to us; (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 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 Dec. 31, 2013. 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.
Copyright Business Wire 2014