NU Online News Service, Dec. 7, 2004, 4:01 p.m. EST
A Hartford insurer is raising $175 million through a private placement.[@@]
The Phoenix Companies Inc. says its Phoenix Life Insurance Company unit wants to raise $175 million by selling surplus notes. The notes are scheduled to mature in 30 years.
Phoenix Life will use the net proceeds to finance a previously announced note purchase offer and will use any remaining cash for general corporate purposes, Phoenix says.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.