Globe Life intends to price $50 million tap of 2.15% notes due 2030

By Devika Patel

Knoxville, Tenn., Aug. 31 – Globe Life Inc. plans to conduct a $50 million add-on offering to its 2.15% notes Aug. 15, 2030 (Baa1/A/BBB+), according to a 424B5 filed with the Securities and Exchange Commission.

The company sold $350 million of the notes in a sale that priced on Aug. 18 and settled on Aug. 21. The notes were sold at 99.822 to yield 2.17%, or Treasuries plus 150 basis points.

The notes may be called at the greater of a make-whole call at Treasuries plus 25 bps and a par call until May 15, 2030 and feature a par call after that date.

BofA Securities Inc. and U.S. Bancorp Investments Inc. are the bookrunners. Wells Fargo Securities LLC is the co-manager.

Proceeds will be used for general corporate purposes.

Globe Life is an insurance holding company based in McKinney, Tex.

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