NU Online News Service, Dec. 12, 9:55 a.m. – The Phoenix Companies Inc., Hartford, has announced plans to raise $130 million by selling at least 5.2 million equity units with a stated value of $25.

Each unit will include a purchase contract that requires the buyer to agree to buy shares of Phoenix common stock Feb. 16, 2006, along with a subordinated note for $25 due 2008.

Merrill Lynch & Company Inc., New York, and Morgan Stanley Inc., New York, are managing the offering.