By Cristal Cody
Chicago, Nov. 9 – Unum Group/Hill City Funding Trust sold $400 million of 4.046% pre-capitalized trust securities due Aug. 15, 2041 (//BBB-) at a spread of Treasuries plus 220 basis points, a market source said.
The notes, which priced Tuesday, priced lower than talk in the Treasuries plus 245 bps area.
Credit Suisse Securities (USA) LLC, BofA Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the bookrunners for the Rule 144A securities.
Fixed-income investor calls were held on Monday.
Unum is an employee benefits provider based in Chattanooga, Tenn.
| Issuer: | Unum Group/Hill City Funding Trust
|
| Issue: | Pre-capitalized trust securities
|
| Amount: | $400 million
|
| Maturity: | Aug. 15, 2041
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, BofA Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Coupon: | 4.046%
|
| Spread: | Treasuries plus 220 bps
|
| Trade date: | Nov. 9
|
| Rating: | Fitch: BBB-
|
| Distribution: | Rule 144A
|
| Price talk: | Treasuries plus 245 bps area
|
| Marketing: | Investor call
|
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