MCKINNEY, Texas, Dec. 1, 2017 /PRNewswire/ -- Torchmark Corporation (NYSE: TMK) will redeem all of its outstanding 5.875% Junior Subordinated Debentures due 2052 on December 22, 2017. There are $125,000,000 principal amount of the debentures currently outstanding. The redemption price will be the liquidation amount of $25.00 per debenture, plus accumulated but unpaid distributions to the redemption date of $0.028559028 per security, for a total payment of $25.028559028 per security. Because all the debentures are held through the Book-Entry Only Issuance System at The Depository Trust Company (DTC), holders are notified by DTC.
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. Family Heritage Life provides individual supplemental health insurance.
SOURCE Torchmark Corporation