November 15, 2007 at 11:50 PM
A disability insurer is giving investors more time to sell its debt securities.
Unum, Chattanooga, Tenn., originally announced a plan to make up to $400 million in cash tender offers for the securities Oct. 31.
Debt securities eligible for the program include notes, bonds and debentures with interest rates ranging from 4.5% to 9.125%.
Securities holders who offer debt securities before an “early tender date” are supposed to get an extra $30 per $1,000 of principal amount or liquidation amount.
Unum now pushed the early tender date back to 5 p.m. Nov. 19, from the original date of 5 p.m. Nov. 14.
Unum is not saying why it has postponed the early tender date.
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