Unum Group completes senior notes offering
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.
Unum Group
Investors:
Tom White, 423-294-8996
Matt Barnett, 423-294-7498
or
Media:
Jim Sabourin, 423-294-6043
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