Torchmark Prices Senior Notes Offering
June 25, 2009
Torchmark Corporation (NYSE: TMK) announced today that it has priced an offering of $300 million in aggregate principal amount of 9.25% Senior Notes that will mature in 2019. Torchmark expects the offering to close on June 30, 2009, subject to the satisfaction of customary closing conditions. The net proceeds of the offering will be used for the repayment of the $99.45 million in aggregate principal amount of Torchmark's 8.25% Senior Debentures that mature on August 15, 2009, and general corporate purposes.
Wachovia Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The notes will be sold pursuant to Torchmark's effective shelf registration statement on file with the Securities and Exchange Commission.
The offering of the notes is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:
Wachovia Capital Markets, LLC
c/o Wachovia Customer Information Center
1525 West W.T. Harris Boulevard
Charlotte, North Carolina 28262-0675
Attention: Syndicate Operations
SunTrust Robinson Humphrey, Inc.
303 Peachtree Street, 24th Floor
Mail Code: GA-ATLANTA-3947
Atlanta, GA 30308
Attention: Investment Grade Debt Capital Markets
Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting the SEC's Web site at www.sec.gov.
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.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements reflect management's current expectations, but are not guarantees of future performance. Accordingly, please refer to Torchmark's cautionary statement regarding forward-looking statements and the risks and uncertainties applicable to Torchmark's business that are contained in the Company's Form 10-K for the year ended December 31, 2008, and any subsequent Forms 10-Q or Forms 8-K on file with the Securities and Exchange Commission and on the Company's website at www.torchmarkcorp.com on the Investor Relations page. Torchmark specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
SOURCE: Torchmark Corporation
Web site: http://www.torchmarkcorp.com/