SPRINGFIELD, Ill., Nov. 18, 2015 /PRNewswire/ -- Horace Mann Educators Corporation (the "Company" or "Horace Mann") (NYSE: HMN) today announced the pricing of its offering (the "Offering") of $250,000,000 aggregate principal amount of 4.50% Senior Notes due 2025 (the "Notes"). The transaction is expected to close on November 23, 2015, subject to the satisfaction of various customary closing conditions.
The Company intends to use the net proceeds from the issuance of the Notes to redeem certain of its outstanding indebtedness, including the Company's 6.85% Senior Notes due April 15, 2016 and borrowings under the Company's bank credit facility, which borrowings were used to repay the $75.0 million payable under the Company's 6.05% Senior Notes that matured on June 15, 2015 and for general corporate purposes. Any remaining proceeds will be used for general corporate purposes.
The Notes will be issued pursuant to the Company's effective shelf registration statement on Form S-3 (File No. 333-202697). The Company's filings with the SEC can be viewed at no charge at the SEC's website at www.sec.gov.
J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. acted as joint book-running managers. PNC Capital Markets LLC acted as Joint Lead Manager. Co-Managers were Janney Montgomery Scott LLC and Macquarie Capital.
This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Horace Mann – the largest national multiline insurance company focusing on educators' financial needs – provides auto and homeowners insurance, retirement annuities, life insurance and other financial solutions. Founded by Educators for Educators® in 1945, the Company is headquartered in Springfield, Ill.
Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Please refer to the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2015 and the Company's past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements.
SOURCE Horace Mann Educators Corporation