Horace Mann Educators Corporation prices offering of Senior Notes
September 12 2023 - 7:15PM
Business Wire
Horace Mann Educators Corporation (NYSE: HMN) today announced
the pricing of its offering of $300,000,000 aggregate principal
amount of 7.250% Senior Notes due 2028. The transaction is expected
to close on September 15, 2023, subject to the satisfaction of
various customary closing conditions.
The Company intends to use the net proceeds from the issuance of
the Notes to repay borrowings under its floating rate revolving
credit agreement. 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. 333-254084). 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 PNC Capital Markets LLC acted as
joint book-running managers.
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.
About Horace Mann
Horace Mann Educators Corporation is the largest financial
services company focused on helping America’s educators and others
who serve the community achieve lifelong financial success. The
company offers individual and group insurance and financial
solutions tailored to the needs of the educator community. Founded
by Educators for Educators® in 1945, the company is headquartered
in Springfield, Illinois.
Safe Harbor Statement
Certain statements included in this news release, that are not
historical in nature, constitute forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are made based on management’s
current expectations and beliefs concerning future developments and
their potential effects upon Horace Mann and its subsidiaries.
Horace Mann cautions investors that such statements are subject to
risks and uncertainties, many of which are difficult to predict and
generally beyond Horace Mann’s control, that could cause actual
results to differ materially from those expressed in, or implied or
projected by, the forward-looking statements included in this
document. Certain important factors that could cause actual results
to differ, possibly materially, from expectations or estimates
reflected in such forward-looking statements can be found in the
“Risk Factors” and “Forward-Looking Information” sections included
in Horace Mann’s Annual Reports on Form 10-K and Quarterly Reports
on Form 10-Q filed with the Securities and Exchange Commission
(SEC). The forward-looking statements herein are subject to the
risk, among others, that we will be unable to execute our strategy
because of market or competitive conditions or other factors.
Horace Mann does not undertake to update any particular
forward-looking statement included in this document if we later
become aware that such statement is not likely to be achieved.
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version on businesswire.com: https://www.businesswire.com/news/home/20230912615110/en/
Heather J. Wietzel Vice President, Investor Relations and
Enterprise Communications 217.788.5144
investorrelations@horacemann.com
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