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MetLife To Borrow $1 Billion Through Note Offering

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NU Online News Service, Dec. 3, 3:17 p.m. – MetLife Inc., New York, says it will borrow $1 billion by issuing $400 million in 10-year senior notes at 5.375% due Dec. 15, 2012, and $600 million in 30-year senior notes at 6.50% due Dec. 15, 2032.

MetLife plans to use some of the proceeds to increase the capital of Metropolitan Life Insurance Company.

The managers of the offering are units of Merrill Lynch & Company Inc., New York, and Wachovia Corp., Charlotte, N.C.

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