Assurant Announces Closing of Public Offering of Senior Notes
August 22 2019 - 4:30PM
Business Wire
Assurant, Inc. (NYSE:AIZ) (“Assurant”), a leading global
provider of housing and lifestyle solutions that support, protect
and connect major consumer purchases, announced the closing of its
previously announced public offering of $350 million aggregate
principal amount of its 3.700% Senior Notes due 2030 (the
“Notes”).
The net proceeds from the sale of the Notes were approximately
$346.7 million, after deducting the underwriting discounts and the
estimated offering expenses payable by Assurant. Assurant intends
to use the net proceeds from the offering (and available cash on
hand, to the extent necessary) to fund the purchase of up to $100
million aggregate principal amount of the $375.0 million
outstanding aggregate principal amount of its 6.750% Notes due 2034
(the “2034 Notes”) pursuant to the previously announced tender
offer that Assurant launched on August 15, 2019 (the “Tender
Offer”), to redeem all or a portion of the $300.0 million
outstanding aggregate principal amount of its Floating Rate Senior
Notes due 2021 (the “2021 Notes”) and to pay related premiums, fees
and expenses. Any remaining net proceeds will be used for general
corporate purposes. This press release does not constitute a notice
of redemption with respect to the 2021 Notes. In addition, this
press release should not be construed as an offer to purchase any
of Assurant’s outstanding 2034 Notes. The Tender Offer is being
made only upon the terms and conditions set forth in the related
offer to purchase.
The offering of the Notes was registered under the Securities
Act of 1933, as amended. J.P. Morgan Securities LLC and Wells Fargo
Securities, LLC acted as joint book-running managers for the
offering.
An effective shelf registration statement, under which the Notes
were issued, was filed previously with the U.S. Securities and
Exchange Commission. The offering and sale of the Notes was made
only by means of a prospectus and an accompanying prospectus
supplement related to the offering. You can get copies of these
documents for free by visiting EDGAR at the SEC website at
www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement may be obtained by contacting J.P. Morgan Securities
LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment
Grade Syndicate Desk, or by calling at (212) 834-4533; and Wells
Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000,
Minneapolis, MN 55402, Attention: WFS Customer Service, or by
emailing wfscustomerservice@wellsfargo.com or by calling at (800)
645-3751.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes, nor does it constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.
About Assurant
Assurant is a leading global provider of housing and lifestyle
solutions that support, protect and connect major consumer
purchases. Anticipating the evolving needs of consumers, Assurant
partners with the world’s leading brands to develop innovative
products and services and to deliver an enhanced customer
experience. A Fortune 500 company with a presence in 21 countries,
Assurant offers mobile device solutions; extended service
contracts; vehicle protection services; pre-funded funeral
insurance; renters insurance and lender-placed homeowners
insurance. The Assurant Foundation strengthens communities by
supporting charitable partners that help protect where people live
and can thrive, connect with local resources, inspire inclusion and
prepare leaders of the future.
Cautionary Statement
Some of the statements included in this press release may
constitute forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Any
forward-looking statements contained in this press release are
based upon our historical performance and on current plans,
estimates and expectations. The inclusion of this forward-looking
information should not be regarded as a representation by us or any
other person that our future plans, estimates or expectations will
be achieved. Our actual results might differ materially from those
projected in the forward-looking statements. Assurant undertakes no
obligation to update or review any forward-looking statement in
this press release, whether as a result of new information, future
events or other developments. For a detailed discussion of the
factors that could affect Assurant’s results, please refer to the
factors identified in the reports we file with the U.S. Securities
and Exchange Commission (the “SEC”), including but not limited to
the risk factors identified in our most recent Annual Report on
Form 10-K, as filed with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20190822005680/en/
Media: Linda Recupero Senior Vice President, Enterprise
Communication 212.859.7005 linda.recupero@assurant.com
Investor Relations: Suzanne Shepherd Senior Vice President,
Investor Relations 212.859.7062 suzanne.shepherd@assurant.com
Sean Moshier Director, Investor Relations 212.859.5831
sean.moshier@assurant.com
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