New Issue: Kemper prices $400 million of 2.4% 10-year notes at 175 bps spread

By Cristal Cody

Tupelo, Miss., Sept. 22 – Kemper Corp. priced $400 million of 2.4% 10-year senior notes (Baa3/BBB/BBB) on Tuesday at 99.859 to yield 2.416%, or a spread of Treasuries plus 175 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.

Guidance was at the 200 bps to 212.5 bps over Treasuries area.

BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

Kemper is a diversified insurance holding company based in Chicago.

Issuer:	Kemper Corp.
Amount:	$400 million
Description:	Senior notes
Maturity:	Sept. 30, 2030
Bookrunners:	BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
Co-managers:	BMO Capital Markets Corp., Citigroup Global Markets Inc., U.S. Bancorp Investments, Inc., JMP Securities LLC, Piper Sandler & Co., Raymond James & Associates, Inc. and UBS Securities LLC
Coupon:	2.4%
Price:	99.859
Yield:	2.416%
Spread:	Treasuries plus 175 bps
Call features:	Make-whole call at greater of par and Treasuries plus 30 bps before June 30, 2030; thereafter at par
Trade date:	Sept. 22
Settlement date:	Sept. 29
Ratings:	Moody’s: Baa3
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 200 bps-212.5 bps area

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