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Globe Life plans to sell fixed-rate senior notes due 2030
Chicago, Aug. 18 – Globe Life Inc. is in the market with an offering of fixed-rate senior notes due Aug. 15, 2030, according to a 424B5 filing with the Securities and Exchange Commission.
The notes have a make-whole call and a par call.
BofA Securities Inc., Wells Fargo Securities LLC and U.S. Bancorp Investments, Inc. are the bookrunners.
The issuer plans to use proceeds to pay off the $150 million principal balance on its 364-day term loan. Remaining proceeds will be used for general corporate purposes, which may include capital investments in insurance subsidiaries, additional holding company liquidity and the repayment of a portion of the company’s outstanding commercial paper.
Globe Life is an insurance holding company based in McKinney, Tex. The company changed its name from Torchmark Corp. on Aug. 8, 2019.
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