Torchmark to redeem all $120 million 7.1% trust preferreds on Oct. 24

By Tali David

Minneapolis, Sept. 24 - Torchmark Corp. plans to redeem all $120 million of the 7.1% trust originated preferred securities due 2046 issued by Torchmark Capital Trust III, according to a press release.

The trust preferreds will be redeemed at $25.00 plus an accrued dividend of $0.2613 for a total of $25.2613 per security on Oct. 24.

Torchmark is an insurance holding company based in McKinney, Texas, that provides life insurance and supplemental health insurance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.