Unum Group to price $25-par junior subordinated notes due 2058

By James McCandless

San Antonio, May 21 – Unum Group plans to price an offering of $25 par junior subordinated notes due 2058, according to a 424B5 filing with the Securities and Exchange Commission.

Bank of America Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners.

The deal was announced on Monday morning.

The notes will be callable after five years.

Unum Group plans to use the net proceeds to repay, redeem or repurchase its $200 million of 7% senior notes due July 15, 2018.

Any remaining proceeds will be used for general corporate purposes.

The company plans to list the notes on the New York Stock Exchange.

Unum Group is a Chattanooga, Tenn.-based insurance provider.

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