Kemper may explore term loan in order to boost liquidity position

By Wendy Van Sickle

Columbus, Ohio, Feb. 13 – Kemper Corp. said it may explore issuing an institutional term loan in order to optimize its liquidity position.

The term loan would be issued prior to the close of the company’s acquisition of Infinity Property and Casualty Corp. for $1.4 billion in a cash and stock transaction, according to a press release issued on Tuesday.

Kemper said it plans to fund the cash portion of the consideration with a combination of cash on hand from and other internal resources and that it does not need additional funding commitments to consummate the transaction, which is expected to close in the third quarter of 2018.

Kemper is a diversified insurance holding company based in Chicago. Based in Birmingham, Ala., Infinity is a provider of personal and commercial automobile insurance.

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