Torchmark Prices Senior Notes and Junior Subordinated Debentures Offerings

MCKINNEY, Texas, Sept. 18, 2012 /PRNewswire/ -- Torchmark Corporation (NYSE: TMK) announced today that it has priced an offering of $300 million in aggregate principal amount of its 3.80% Senior Notes that will mature in 2022.  Torchmark expects the offering of the notes to close on September 24, 2012, subject to the satisfaction of customary closing conditions. Torchmark's insurance subsidiaries will purchase $150 million of the notes. Approximately $200 million of the net proceeds from the offering are expected to be used to fund a portion of the purchase price of Torchmark's proposed acquisition of Family Heritage Life Insurance Company of America, which Torchmark expects to close early in the fourth quarter of 2012. The remainder of the net proceeds will be used for general corporate purposes, which may include the repurchase or repayment of the $94.1 million in principal amount outstanding of Torchmark's 7.375% Notes that mature on August 1, 2013.

Torchmark also announced that it has priced an offering of $125 million in aggregate principal amount of its 5.875% Junior Subordinated Debentures that will mature in 2052. The debentures are redeemable, in whole or in part, at a redemption price equal to their principal amount on or after December 15, 2017. Torchmark expects the offering of the debentures to close on September 24, 2012, subject to the satisfaction of customary closing conditions. The net proceeds of the offering are expected to be used to redeem all of the $120 million of 7.10% Trust Originated Preferred Securities® due 2046.

The offering of the Senior Notes is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:

Merrill Lynch, Pierce, Fenner & Smith, Incorporated
One Bryant Park
New York, NY 10036
1-800-294-1322

U.S. Bancorp Investments, Inc.
214 N. Tryon Street 26th Floor
Charlotte, NC 28202
1-877-558-2607

Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd. NC0675
Charlotte, NC 28262
Attn: Capital Markets Client Support
1-800-326-5897

The offering of the Junior Subordinated Debentures is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:

Merrill Lynch, Pierce, Fenner & Smith, Incorporated
One Bryant Park
New York, NY 10036
1-800-294-1322

Wells Fargo Securities, LLC
1525 West W.T. Harris Blvd. NC0675
Charlotte, NC 28262
Attn: Capital Markets Client Support
1-800-326-5897

Alternatively, the prospectus supplements and accompanying prospectuses may be obtained by visiting the SEC's website at www.sec.gov.

About Torchmark

Torchmark Corporation is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies. Torchmark has several nationally recognized insurance subsidiaries.  Globe Life And Accident is a direct-response provider of life insurance known for its administrative efficiencies. American Income Life provides individual life insurance to working families. Liberty National Life is one of the oldest traditional life insurers in the Southeast.  United American is a consumer-oriented provider of supplemental life and health insurance. 

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "intend," "potential," "should," "expect," "anticipate" or comparable terminology. Such forward-looking statements are based upon current beliefs and expectations but are inherently subject to certain risks and uncertainties, many of which Torchmark cannot predict with accuracy and some of which are beyond Torchmark's control, and involve factors that may cause actual results to differ materially from those expected or suggested.  Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors under the headings "Cautionary Statements" and "Risk Factors" in Torchmark's Annual Report on Form 10-K for the year ended December 31, 2011, as further amended and supplemented by Torchmark's other filings with the SEC, and on the Company's website at www.torchmarkcorp.com on the Investor Relations page.  These forward-looking statements speak only as of the date of this report, and Torchmark assumes no obligation to update or supplement forward-looking statements that become untrue because of new information, future developments or otherwise.

SOURCE Torchmark Corporation



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