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Life Health > Life Insurance

UnumProvident To Buy Back Securities

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A disability insurer is retiring some of its debt.

UnumProvident Corp., Chattanooga, Tenn., says it will be buying back notes and capital securities with a total principal and liquidation value of up to $300 million.

The expiration date for the offer is June 9. Security holders who wait until after a May 24 early tender date to offer their securities may end up getting paid 5% less than holders who offer securities by May 24, according to UnumProvident.

“The offer is not subject to the receipt of any minimum amount of tenders,” UnumProvident says.


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